Daily News: July 11, 2013

Bloomberg: Bernanke Supports Continuing Stimulus

Bloomberg reported that Federal Reserve chairman Ben S. Bernanke called for maintaining accommodation even as the minutes of policy makers’ June meeting showed them debating whether to stop bond buying by the Fed in 2013.

Bloomberg quoted Bernanke as saying, “Highly accommodative monetary policy for the foreseeable future is what’s needed in the U.S. economy,” Bernanke in response to a question after a speech in Cambridge, MA.

The article also said minutes of the June 18-19 gathering showing that about half of the 19 participants in the Federal Open Market Committee wanted to halt $85 billion in monthly bond purchases by year end.

To read the full Bloomberg article click here.

To read the FOMC minutes released July 10, 2013 click here.