Bernanke: U.S. Economic Growth Is Slowing

Jul 17, 2012
Originally published on July 17, 2012 4:16 pm

Federal Reserve Chairman Ben Bernanke told lawmakers that progress toward bringing down the nation's high unemployment rate will be "frustratingly slow." He reiterated previous statements that the Fed stands ready to do more, but declined to be specific about what it would do. Bernanke also defended the Fed's role in addressing the manipulation of a benchmark interest rate by at least one big bank.