Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Testimony by Chairman Bernanke on the Semiannual Monetary Policy Report to the Congress

Chairman Ben S. Bernanke, Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C., July 21, 2010

  • Chairman Dodd, Senator Shelby, and members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress.
  • Economic and Financial Developments: “The economic expansion that began in the middle of last year is proceeding at a moderate pace, supported by stimulative monetary and fiscal policies. Although fiscal policy and inventory restocking will likely be providing less impetus to the recovery than they have in recent quarters, rising demand from households and businesses should help sustain growth. In particular, real consumer spending appears to have expanded at about a 2-1/2 percent annual rate in the first half of this year, with purchases of durable goods increasing especially rapidly. However, the housing market remains weak, with the overhang of vacant or foreclosed houses weighing on home prices and construction.”
  • Related postings on financial system
  • Sorry, comments are closed for this post.