Bernanke Says Fed Prepared To Buy Stocks
Source: Agencies |
August 28, 2010, Saturday
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Print Edition
Print Edition
US Federal Reserve Chairman Ben Bernanke yesterday said the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.
Bernanke's remarks, prepared for delivery to a conference in Wyoming, came after the government said the United States economy slowed sharply in the second quarter to a 1.6 percent pace.
Fears are growing that the US could lapse back into a recession. The Fed chief stopped short of committing to any specific action. He raised the prospect of another Fed purchase of securities, most likely government debt or mortgage securities, to drive down rates on mortgages and other debt to spur more spending by Americans.
Bernanke described the economic outlook as "inherently uncertain" and said the economy "remained vulnerable to unexpected developments."
Bernanke's remarks, prepared for delivery to a conference in Wyoming, came after the government said the United States economy slowed sharply in the second quarter to a 1.6 percent pace.
Fears are growing that the US could lapse back into a recession. The Fed chief stopped short of committing to any specific action. He raised the prospect of another Fed purchase of securities, most likely government debt or mortgage securities, to drive down rates on mortgages and other debt to spur more spending by Americans.
Bernanke described the economic outlook as "inherently uncertain" and said the economy "remained vulnerable to unexpected developments."
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