US Federal Reserve chief Ben Bernanke Wednesday
signaled that the US economy will continue to receive support from
economic stimulus policies like low interest rates, even as he faced
strong criticism from conservative Republicans in Congress.
Bernanke was to deliver his semi-annual monetary policy report to the House of Representatives committee on financial services.
But before Beranke came to the podium to deliver his prepared testimony, committee chairman Jeb Hensarling launched an attack, charging that the "risky and unprecedented asset purchases by the Federal Reserve" were putting a heavy burden on future generations and hampering economic growth.
"My constituents back in Texas are left to wonder how much longer they will have to endure," Hensarling said.
Bernanke was to tell the committee that "a highly accommodative monetary policy will remain appropriate for the foreseeable future," given continuing high unemployment and low inflation.
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