Fed Will Take Action

by Daniel Foster

The Washington Post reports:

The Federal Reserve is prepared to take new action to boost the economy, its chairman, Ben S. Bernanke, said Friday morning, because inflation has been too low of late and unemployment is poised to come down too slowly.

The Fed’s policymaking committee “is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation over time to levels consistent with our mandate,” Bernanke said in prepared remarks.