Bernanke favors higher consumer spending

Filed under: AM Roundup |

Federal Reserve Chairman Ben Bernanke says the U.S. economy isn’t yet operating at levels that it was before the 2008 financial crisis – and more household spending is needed to further expansion.

Consumer spending is still weak, Bernanke told Bloomberg, and that means the Fed is holding interest rates near zero at least through 2014.

Read more at Bloomberg.com