Feb 15
Testimony of Chairman Ben Bernanke
Semiannual Monetary Policy Report to Congress Bernanke announced a lower and wider GDP growth range for 2007, while it maintained Fed’s core inflation central tendency forecast Fed concerns on inflation seem to be slightly and gradually moderating The testimony is consistent with steady monetary policy Fed’s estimate for GDP growth in 2007 is “slightly lower” than the previous projection Bernanke noted that the “economy seems likely to expand at a moderate pace this year and next, with growth
