Bernanke Says Fed Could Take More Action

Washington, DC, Oct. 4, 2011 -- The Federal Reserve is ready to take additional steps to spur economic growth, Chairman Ben Bernanke said in testimony to Congress’s Joint Economic Committee in Washington.

The central bank’s has already vowed to keep interest rates near-zero and has purchased $2.3 trillion of housing and government-debt since 2008, but the economic recovery has been weak.

“A second important objective is to avoid fiscal actions that could impede the ongoing economic recovery,” Bernanke said.