Wednesday, May 9, 2007

Fed Chairman Bernanke Earns Inflation `Stripes' With Tough Stand on Prices

(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke, unshaken by the weakest economic growth in four years, is giving no quarter to inflation.

The Fed's Open Market Committee yesterday repeated its assessment from March 21 that persistent inflation remains the ``predominant policy concern.'' The central bank held its main interest rate at 5.25 percent, the level it's been at since June.


Read more at Bloomberg Currencies News

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