Bernanke Sees Steady U.S. Growth, Possible Rate Hikes

Feb. 15, 2006
The U.S. economic expansion is "on track" despite some obstacles, new Federal Reserve chief Ben Bernanke said Feb. 15, noting that any interest rate increases would be "increasingly dependent" on new data. In his first congressional appearance as head ...

The U.S. economic expansion is "on track" despite some obstacles, new Federal Reserve chief Ben Bernanke said Feb. 15, noting that any interest rate increases would be "increasingly dependent" on new data.

In his first congressional appearance as head of the central bank, Bernanke said Feb. 15 that more rate hikes may be needed because of the threat of higher inflation from a strong economy and higher energy prices. The message was almost identical to the Federal Open Market Committee's last policy statement. Bernanke said the Fed has come a long way in hiking rates and removing accommodation.

Bernanke said economic growth remained on track despite the weak fourth-quarter data. A sharp downturn in the housing market was a risk to the expansion, but only a "modest softening" was expected, he said. "The most recent evidence ... suggests that the economic expansion remains on track," Bernanke said.

Copyright Agence France-Presse, 2006

Popular Sponsored Recommendations

Managing Supply Chain Risk in Aerospace and Defense!

Dec. 6, 2023
A&D companies need to adopt digital technologies that enable greater collaboration, active monitoring of leading risk indicators, & integration of supply chain risk factors into...

Goodridge Boosts Productivity & Saves Costs by Moving to the Cloud!

Dec. 4, 2023
With Infor's cloud solutions, Goodridge has been able to greatly increase overall productivity, cost savings, data visibility, and automation. This case study discusses the many...

How to Build Zero-Cost On-Site Solar and Storage Projects

Nov. 25, 2023
The Inflation Reduction Act offers tax credits, incentives, and financing that enable no-cost projects. In Enel’s eBook, discover the critical role that incentives play in your...

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!