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Bernanke Defends New Fed Plan to Boost Economy

By: AP
By: AP

Critics, including some Fed officials, fear that all the money being injected into the economy could ignite inflation or speculative bubbles in the prices of bonds or commodities.

Speaking to a conference on the Georgia coast Saturday, Bernanke
says the new program, announced Wednesday, won't push inflation to
"super ordinary" levels.

The Fed will buy $600 billion worth of government bonds in a bid to make loans cheaper and get Americans to spend more.

Doing so, would help the economy and prompt companies to boost hiring.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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