Bernanke Cuts Growth Outlook

In a press conference following today’s FOMC statement, Federal Reserve Chairman Ben Bernanke said it appears that US economic growth will be less than previously forecast. Bernanke said that for the current year, he expected growth to be between 3.1 percent and 3.3 percent compared to 3.4 to 3.9 percent as noted earlier. Bernanke also hinted that the Fed would not conduct further quantitative easing once the current round of stimulus spending wraps up in June.