FED: Steve Beckner recaps the day’s Bernanke and Volcker answers on
the MNI main wire. Bernanke defended the Fed’s low interest rate stance
and gave no indication it will be raising rates anytime soon. Bernanke
acknowledged that holding rates too low too long would risk inflation,
but made clear he thinks low rates are no needed to spur job creation
and said the Fed must balance its goals of maintaining price stability
and promoting maximum employment.