President of reserve Federal of United States, Ben Bernanke addressed a first scheduled press conference by a head of the Federal Reserve following a meeting of the Federal Reserve of the Federal Reserve in Washington, April 27, 2011.
Credit: Reuters/Jason ReedBy Mark felsenthalWASHINGTON | Friday, April 29, 2011 3: 43 pm EDT
WASHINGTON (Reuters) - the US economy not recover completely from its deep recession, with housing still weighs on growth, Federal Reserve Chairman Ben Bernanke said Friday in a spelling discourse forms the central bank of United States has been studied more low income communities.
"Our economy is far from where we would like it to be," he said in remarks prepared for a Conference.
The Fed earlier this week said that it will be your bonus of $ 600 million buying the program, launched in November to stimulate a weak recovery, through its completion scheduled by the end of June.
The largest in the world economy grew at an annual rate of 1.8 per cent in the first three months of the year, but unemployment is still at 8.8 per cent high.
The depressed property market is slowing the economic recovery, Bernanke said. Rates of exclusion house they remain high and many families are due more to their homes which are worthwhile houses.
"Obviously, the problems in the labour market and the housing market are not independent," he said.
The Fed Chairman said Fed research shows loans to individuals and businesses through community development financial institutions can boost economic activity. That trade generates tax revenues which in turn allows the Government spending in ways that benefit from these communities, said.
"In the Federal Reserve will remain very sensitive to the economic health of all communities, including communities of low and middle income," Bernanke said.
With the increase in prices generating concern about inflation, the Fed is under some pressure to tighten policy after acceleration without previous and aggressive measures. The Fed officials believe the central bank should act quickly to stop its bloated balance sheet and other major central banks in the world have begun to increase interest rates in response to price pressures.
However, the Fed made clear through a Declaration and a press by Bernanke Conference on Wednesday that with a high rate of unemployment, a wide wealth lost and still not much higher than historic lows levels of inflationthe central bank has no immediate plans to withdraw its support.
Bernanke said Friday the economy is recovering at a moderate pace, and that there has been "welcome, if gradual" improvement in labor markets.
(Editing by Neil stempleman)
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