Bernanke says Fed ready to do more

The US recovery continues at a 'modest' pace but has not been permanently scarred by the financial crisis, according to the chairman of the Federal Reserve

Friday 26 August 2011 at 08:44

Federal Reserve Chairman Ben Bernanke said today the central bank stands ready to provide further support to a persistently weak economy, but didn't indicate any move was imminent despite fresh signs of feeble growth.

In a much-anticipated speech to global monetary policymakers gathered in Wyoming, Bernanke didn't elaborate on the central bank's remaining tools to boost the economy, which could have been a sign that the Fed was leaning towards action. Instead, he said the Fed would extend its mid-September meeting to two days to discuss options the central bank could pursue.