Federal Reserve Chairman Ben Bernanke
maintained his skepticism of U.S. economic
growth on Tuesday stating that the central
bank would continue to hold interest rates
near record lows until at least 2014 in an
effort to stimulate economic activity.
The Fed has kept its benchmark interest
rates near zero for much of the past 3 years.
Bernanke said that "the pace of the recovery
has been frustratingly slow," and he warned
lawmakers not to overlook economic growth in
an effort to cut the nation's deficit. Some
republicans voiced their opinions that
keeping rates this low could increase
inflation and hurt consumers who wish to
receive higher interest rates on their
deposits.
Sheila McKinney
