by Cecilia Jamasmie:
US Federal Reserve Bank Chairman, Ben Bernanke, seems to be sticking to his monetary policy as he showed no signs of the Fed ending its bullion-friendly bond buying program any time soon, as his opening statement reads.
The document, released to the media a couple of hours ahead of his testimony in front of Congress, indicates the Fed’s monetary stimulus is helping the U.S. economy recover, as the high costs of unemployment and inflation continue to run below the central bank's target.
"Monetary policy is providing significant benefits," Bernanke says in his testimony, reiterating that the Fed was prepared to either increase or reduce the pace of its bond buys based on economic conditions.
“In particular ...