FEDERAL RESERVE CHAIR TO GOP: DON'T TAKE THAT PUNCH BOWL AWAY

Here’s what Fed chief Ben Bernanke said to disbelieving Republicans at his appearance before the House financial plan Committee on Wednesday: No, it’s not yet time to take the punch bowl away from the party.

What this means is that the Federal put to one side thinks the economic recovery remains fragile. The Fed needs to keep up a maximum effort to get the economy moving even though some of its actions, if maintained too long, risk awaking an old foe, inflation. Inflation is establishment to show up in some developing nations such as Brazil, Bernanke acknowledged. But under surprised from panel chairman Rep. Paul Ryan (R) of Wisconsin, he said the jeopardy of that happening in the United States at the moment is minimal.

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