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Fed chief: Stimulus is needed

Federal Reserve Chairman Ben Bernanke yesterday suggested U.S. economic conditions are still too weak for the central bank to pull back on its vast monetary stimulus, despite a welcome drop in the jobless rate.

WASHINGTON – Federal Reserve Chairman Ben Bernanke yesterday suggested U.S. economic conditions are still too weak for the central bank to pull back on its vast monetary stimulus, despite a welcome drop in the jobless rate. The Fed chief, testifying to the House of Representatives Budget Committee, also warned about the dangers of record U.S. budget deficits.

 
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