07262016Tue
Last updateTue, 26 Jul 2016 4pm

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Bernanke Foresees No Rise in Interest Rates Soon

Moving to defuse concerns that an interest rate rise could be just a few months away, Federal Reserve Chairman Ben Bernanke told Congress Wednesday he expects rates to stay "exceptionally low" for an "extended period."

In his semiannual report to the House Financial Services Committee, Bernanke cited high unemployment, "subdued inflation trends and stable inflation expectations" as reasons for keeping its fed funds rate near zero.

Source: USA Today

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