Bernanke: Economy slowing but faster growth ahead

Townhall Staff

Jun 13, 2011 10:41 AM Jun 13, 2011

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WASHINGTON (AP) -- The economy has weakened in recent weeks, Federal Reserve Chairman Ben Bernanke noted Tuesday. But he stuck with a message he's delivered since April: The slowdown from high gas prices and Japan's crises is temporary, and growth should pick up later this year.

Bernanke made no mention of any new steps the Fed might take to boost the economy. The Fed's $600 billion Treasury bond-buying program is ending this month. The program was intended to keep interest rates low to strengthen the economy. But critics said it raised the risk of high inflation.