Jul 19
Testimony of Chairman Ben Bernanke Semiannual Monetary Policy Report to Congress
Fed’s forecast for 2007 and 2007 GDP growth is revised downward Core inflation still “predominant policy concern” The testimony is consistent with the federal funds target remaining at 5.25% Despite GDP downward revision, the Fed is still positive about future growth Bernanke noted that “after having run at an above-trend rate earlier in the current economic recovery, U.S. economic growth has proceeded during the past year at a pace more consistent with sustainable expansion.” This
