WASHINGTON -- Federal Reserve Chairman Ben Bernanke noted that the job market and the economy have weakened lately. But he said the reasons are higher gas prices and the Japan crises -- factors which should ease in coming months_ and predicted growth could strengthen after this year.
Bernanke made no mention of any new steps the Fed may take to boost the economy. The Fed's $600 billion Treasury bond-buying program is ending this month. The program was meant to keep interest rates low to fortify the economy. But critics said it increased the risk of inflation.
The Fed chairman said the economy still needs the advantage of reduced interest rates.
This confirms my cut to expect pair above 1.47
