Bernanke defends Fed’s loose monetary policy

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An accommodative stance on monetary policy is the right choice for the US and will not create problems for the world's largest economy, Federal Reserve chairman Ben Bernanke said in a speech on October 1.

Bernanke defended the Fed's decision to introduce a third round of quantitative easing (QE3) from critics, including Federal Reserve Bank of Richmond president Jeffrey Lacker, who suggested the actions would have limited benefits and could cause inflation in the future. Lacker was the only memb

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