Bernanke defends Fed's dramatic easing monetary policy

U.S. Chairman of the Federal Reserve Ben Bernanke arrives to deliver opening remarks at a Federal Reserve System symposium on "Mortgage and the Future of Housing Finance" in Arlington, Virginia, October 25, 2010.

The U.S. Federal Reserve's new round of buying government longer-term bonds was to support the recovery and sustain price stability, Fed Chairman Ben Bernanke said Thursday.

With economic growth at only 2 percent and unemployment hovering near double digits, "we hardly will be satisfied," Bernanke said in an article published by the Washington Post.

The Fed's monetary policymaking committee -- the Federal Open Market Committee (FOMC) announced Wednesday it would restart a controversial policy known as quantitative easing by buying 600 billion dollars more in Treasury bonds to boost the sluggish economic growth.




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