Bernanke Provides Fed Perspective on Economy

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The Fed adjusted its growth forecast for 2011 downward and since it sees no threat in Core Inflation it will keep interest rates low and continue with its QE2 purchases scheduled through June. Bernanke acknowledge that the CPI, which includes food and gas, has increased because of rising demand for commodities in emerging markets. He also noted that prices have risen faster than wages which continue to decline. That means the growth in real wages has been negative.