News / USA

Bernanke Defends US Fed's Policy

U.S. Federal Reserve Chairman Ben Bernanke is seen prior to the International Monetary and Financial Committee at the annual meetings of the IMF and the World Bank Group in Tokyo, October 13, 2012.
U.S. Federal Reserve Chairman Ben Bernanke is seen prior to the International Monetary and Financial Committee at the annual meetings of the IMF and the World Bank Group in Tokyo, October 13, 2012.
TEXT SIZE - +
VOA News
The head of the U.S. Federal Reserve has rejected arguments that the central bank's monetary easing measures hurt emerging economies.

Ben Bernanke said Sunday the U.S. easing efforts strengthen the American economy. He said the moves also benefit the global economy by boosting growth and providing stronger markets for the goods of developing markets.

Some foreign officials have been critical of the Fed's policy, arguing that extraordinarily low U.S. interest rates end up giving the U.S. trade advantages by weakening the value of the U.S. dollar. A cheaper dollar makes U.S. goods less expensive in other countries.

The Fed has maintained an ultra-low interest rate policy for several years, pumping trillions of dollars into the U.S. economy to stimulate growth.

Last month, the Fed decided to inject $40 billion a month into a U.S. economy beset by high unemployment.

Bernanke said the dollar's value against the currencies of emerging market economies has not changed much during the Fed's prolonged period of credit easing.

Bernanke spoke in Tokyo at a conference sponsored by the International Monetary Fund and the Bank of Japan.

You May Like

Video Star Trek Influence Lives Long and Prospers

As new movie thrills, many are once again discussing the iconic franchise's influence on society, science and technology More

OECD: Developing Green Cities Key to Sustainable Future

OECD suggests strategies to mitigate rapid growth, industrialization in urban centers, which produce about two-thirds of greenhouse gas emissions More

Video Safe Rooms Saved Lives in Tornado Disaster

Safety experts say more safe rooms are needed in areas where tornadoes frequently strike More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Video

Video Volunteers Help Revive LA's Concrete River

The Los Angeles River is a concrete drainage channel through much of its 80-kilometer length. It channels waste-water from storm drains and has become a receptacle for much of the city's trash. But as Mike O'Sullivan reports, the river is slowly being restored with the help of volunteers, who take part in an annual clean-up.