Attempting to become more transparrent, the Federal Reserve will do whatever it takes to face the significat downside risks and strains that behold the economy, the Federal Reserve chairman signaled on Wednesday. Still, policy makers refrained from new actions to lower borrowing costs.
Ben S. Bernanke today held a press conference in Washington after policy makers decided to maintain the pledge of keeping the interest rates unchanged, highlightingthe importance of an accomodative monetary policy to further spur the economy and the apparently gradual recovery.
"Accomodation will spur GDP growth", "Fed have plans to bring down inflation close to target" and " we remain prepared to do more" are some of the words that Bernanke spoke of, citing economic data and consensus the Federal Open Market Committee are quite comfortable with at the meantime.
Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009