Federal Reserve Chairman Ben Bernanke Tuesday said the outlook for the long-suffering US economy was improving, but supportive policies would be needed for some time to prevent rising unemployment from undercutting recovery.
Delivering the Fed's semiannual report on the economy to Congress, Bernanke also sought to dispel concerns the US central bank's aggressive monetary easing could end up fueling inflation, saying he was confident the Fed could pull back its extraordinary stimulus when the time was right.
"Better conditions in financial markets have been accompanied by some improvement in economic prospects," Bernanke told the House of Representatives Financial Services Committee. "Despite these positive signs, the rate of job loss remains high."
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Rubeel
www.jzom.com
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