No new Fed moves to boost US economy

Federal Reserve Chairman Ben Bernanke’s much anticipated speech to an economic conference in the US on Friday turned out to be a bit of a damp squib.

Earlier in the week there had been much speculation in the financial markets that he might announce further action to boost the US recovery – perhaps more quantitative easing, that is printing money and pumping it into the economy.

In the end it was jobs the head of the US central bank focused on saying it was critical for the economy’s health to reduce unemployment.

He passed the problem to the politicians saying the US Congress and the White House must do more to promote hiring and growth.

Benanke left open the possibility the Fed will take further steps to strengthen the economy but analysts said the speech actually provided no assurances of any new help.

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