Bernanke says current US money stance appropriate

In the speech 'Monetary Policy and the Economic Outlook: 2004' given on 4 January Ben Bernanke of the Federal Reserve said that while the U.S. economy seems to have turned a corner, the Fed is right to keep interest rates at the current45-year lows given the low rate of underlying inflation.

"The Federal Reserve enters 2004 with monetary policy that is unusually accommodative in historical terms, relative to the stage of the business cycle," Bernanke told the annual meeting of the American

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