Futures markets still a useful tool: Bernanke

Policymakers should still look to futures markets to derive their price forecasts of key commodities despite their inaccuracy, Ben Bernanke, the chairman of the Federal Reserve, said.

"Futures markets quotes have underpredicted commodity price increases in recent years, leading to corresponding underpredictions of overall inflation," Bernanke said. "Despite this recent record, I do not think it is reasonable, when forecasting commodity prices, to ignore the substantial amounts of information

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