On February 24, 2010, Federal Reserve Chairman Ben Bernanke told lawmakers, "The Feds need to keep interest rates low to aid the economy for an extended period." He also stated that the economy continues to improve with no indications of a double-dip recession.
While there are reports that consumer spending is up, demand isn't expected to take off until the job market improves, which is still weak. There is a concern that a growing number of people have remained unemployed for long periods.
Bernanke states that the central bank will keep its main interest rate near zero to ensure that the delicate economic recovery stays on track.
Catherine Condon, Broker MA & NH