Bernanke: No Firm Lid on Treasury-Bond Buys

Reuters

Federal Reserve Chairman Ben Bernanke did not rule out further purchases of Treasury bonds beyond the $600 billion program announced last month, CBS television reported Bernanke as saying in an interview on the show "60 Minutes".

"He explains why the Fed announced its intention to buy $600 billion in Treasury securities, defending against charges the move will lead to inflation and not ruling out the purchase of more," the network said in a statement.

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Bernanke's high-profile TV appearance, which will air on Sunday at 7 p.m. (2200 GMT), comes as the Fed's decision last month to purchase an additional $600 billion caused a flurry of criticism from politicians in Washington, who argue the central bank is playing with fire and courting future inflation.

The last time Bernanke appeared on 60 Minutes was in March 2009, just as the worst phase of the global financial crisis was beginning to subside. The stock market began to rebound that month while the economy started to recover in the summer from its worst recession since the Great Depression.

The interview was conducted in Columbus, Ohio on Tuesday, before the Labor Department issued a disappointing report showing a rise in the unemployment rate to 9.8 percent.

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