Today’s top stories from Report on Business : Economy still needs low rates, Bernanke says Federal Reserve Chairman Ben Bernanke put a bounce into stock markets today, saying the U.S. economy still requires low interest rates. In semi-annual testimony to the House Financial Services Committee in Washington, the U.S. central bank chief said there were tentative signs of stability in the jobs markets, but noted it remains weak, with few job openings and an unemployment rate near 10 per cent. Of particular concern, he added, are about 40 per cent of America’s jobless who have been out of a job for half a year or more. Mr. Bernanke added that the Fed “continues to anticipate that economic conditions – including low rates of resource utilization, subdued inflation trends, and stable inflation expectations – are likely to warrant exceptionally low levels of the federal funds rate for an extended…

February 24th, 2010
Money maker
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