Press Conference with Chairman of the FOMC, Ben S. Bernanke

Press Conference with Chairman of the FOMC, Ben S. Bernanke

 FOMC statement: http://www.federalreserve.gov/newseve...

For immediate release

Information received since the Federal Open Market Committee met in October indicates that economic activity is expanding at a moderate pace. Labor market conditions have shown further improvement; the unemployment rate has declined but remains elevated. Household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth, although the extent of restraint may be diminishing. Inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.