USA: Federal Reserve Chairman Ben Bernanke poses for cameras on the sidelines of a keynote Jackson Hole speech

Record ID: 859990

  • Title: USA: Federal Reserve Chairman Ben Bernanke poses for cameras on the sidelines of a keynote Jackson Hole speech
  • Date: 31st August 2012
  • Summary: JACKSON HOLE, WYOMING, UNITED STATES (AUGUST 31, 2012) (REUTERS) U.S.FEDERAL RESERVE CHAIRMAN BEN BERNANKE WALKING PAST CAMERA
  • Embargoed: 15th September 2012 13:00
  • Keywords:
  • Location: Usa
  • City:
  • Country: USA
  • Topics: Politics
  • Reuters ID: LVA2XR788R1VF7GXFSODTHOGMWS3
  • Aspect Ratio:
  • Story Text: Federal Reserve Chairman Ben Bernanke on Friday (August 31) said the U.S. economy faced "daunting" challenges and that progress reducing unemployment had been too slow, but he stopped short of providing a clear signal of further monetary policy easing.
    Bernanke said the central bank would act as needed to strengthen the recovery but he also said it had to weigh the costs as well as the benefits of more monetary stimulus, although he hinted the costs may be worthwhile.

    "It is important to achieve further progress, particularly in the labor market," Bernanke said at the Kansas City Fed's annual Jackson Hole symposium.
    U.S. stocks initially pared gains but soon moved higher as investors digested Bernanke's remarks. Investors had been bidding up stock prices in recent weeks on expectations the U.S. central bank would launch a new round of bond buying soon.
    Prices for U.S. government bonds rose and the dollar hit session lows against the euro.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register