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Bernanke Says Quantitative Easing, Forward Guidance 'helpful'

wochit business
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January 16, 2014 AT 8:51 AM
In his last planned public remarks as head of the U.S. central bank, Federal Reserve Chairman Ben Bernanke said he believes the controversial steps he took to pull the economy from its deep slump were effective, with few of the costs that many feared. During his tenure, Bernanke pushed the Fed far into unconventional territory, not only slashing short-term interest rates to zero and keeping them there since December 2008, but providing long-term "forward guidance" on how long the Fed will keep interest rates low.