Tuesday, 1 March 2011

Bernanke: Inflation rise will be modest

Federal Reserve Board Chairman Ben Bernanke: "The most likely outcome is that the recent rise in commodity prices will lead to, at most, a temporary and relatively modest increase in U.S. consumer price inflation,"

He defended the Fed's $600 billion bond-buy program but gave no hints about what the central bank would do after the purchases ends, now expected on June 30.

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