The US Federal Reserve Chairman Ben Bernanke addresses the first regular news conference, according to the Fed after the Fed's meeting of the Federal Reserve system in Washington, d.c., 27. April 2011.
Credit: Reuters/Jason ReedBy Mark felsenthalWASHINGTON, DC | Wed Apr 29, 2011 3: 43 pm EDT
WASHINGTON (Reuters)-the US economy is fully recovered from a deep recession, housing, still weighs on growth, Federal Reserve Chairman Ben Bernanke said in a speech Friday spelling ways the American Central Bank studied lower-income communities.
"Our economy is far from where we would like it," he said in prepared remarks at the Conference.
The Fed earlier this week said that it sees its bonds in the $ 600 billion to buy the program, launched in November with weak recovery, at the end of June the planned closure.
World's largest economy grew at a sluggish annual rate of 1.8 percent in the first three months of the year, but unemployment is still on the noble 8.8 percent.
On the market, depressing the housing is holding back economic recovery, Bernanke said. Home passing rates remain high, and because many families find themselves in their homes, more than the cost of a dwelling.
"Of course, problems in the labour market and housing market are not," he said.
The Fed Chairman said the Fed research shows loans for individuals and businesses through the community development financial institutions can increase economic activity. That the business generates revenue from taxes, government spending ways to benefit these communities, he said.
"We at the Federal Reserve will continue to be closely attuned to the economic health of all communities, including Community with low and moderate incomes," Bernanke said.
With rising prices, raising fears of inflation, the Fed is under pressure to tighten policy after the unprecedented and aggressive easing measures. Some Fed officials that the Central Bank should act quickly to pare its bloated balance sheet and the other main central banks around the world began to increase interest rates in response to price pressures.
However, the Fed made clear by the statement and press conference by Bernanke on Wednesday that the high unemployment rate, large lost wealth and level of inflation is much higher than historic lows, Central Bank has no immediate plans to cancel the aid.
Bernanke said Friday the economy is recovering at a moderate pace, and that there is no "welcome, if it is a gradual improvement in the labour market.
( Neil stemplemanEdit)
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