Bernanke Says Economy Still Needs Low Rates

Washington, DC, March 25, 2010--Fed Chairman Ben Bernanke said the weak economy still needs low interest rates.

"The economy continues to require the support of accommodative monetary policies," Bernanke said today in prepared testimony to the House Financial Services Committee.

"However, we have been working to ensure that we have the tools to reverse, at the appropriate time, the currently very high degree of monetary stimulus."

The Fed said earlier this month that while the economy is improving, employers are still reluctant to hire, homebuilding is depressed and inflation will be "subdued for some time."