(NEW YORK) — Federal Reserve chairman Ben Bernanke says the bank’s stimulus measures have helped the global economy, in spite of criticism from abroad, the BBC reports.
Brazil has criticized the United States for keeping interest rates low and weakening the dollar, saying that such measures has hurt emerging economies. Christine Lagarde, chief of the International Monetary Fund, also warned Sunday of asset bubbles consequently developing in emerging nations. But Bernanke defended the Fed’s actions by saying the moves have boosted the global economy, the BBC says.
The Fed has kept a low interest rate policy for several years, pumping over $2 trillion into the national economy to encourage growth, according to the BBC.
Copyright 2012 ABC News Radio
Paul R. La Monica, CNN
Parija Kavilanz, CNN