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The Fed
August 24, 2012

Is monetary easing, weaker currency and a devalued dollar inevitable?

The Fed

''The Federal Reserve has room to deliver additional monetary stimulus to boost the U.S. economy, Fed Chairman Ben Bernanke told a Congressional oversight panel in a letter.

'There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery,' Bernanke wrote to the committee's chairman, Representative Darrell Issa, in a letter obtained by Reuters on Friday.

Bernanke at the end of next week will give a closely watched speech at an annual symposium in Jackson Hole, Wyoming, which will be closely watched for clues into the prospect of further bond-buying from the Fed.

Asked if it was too soon to consider new monetary easing steps when the Fed's Operation Twist program aimed at lowering long-term bond yields was still in effect, Bernanke said policymakers must invariably look beyond the immediate term.''

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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