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A television screen on the floor of the New York Stock Exchange shows the decision of the Federal Reserve, Wednesday Nov. 4, 2009.

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Fed to keep eye on sliding dollar

Bernanke said FEd will keep rates low

Updated: Monday, 16 Nov 2009, 10:38 AM MST
Published : Monday, 16 Nov 2009, 10:36 AM MST

    NEW YORK (AP) - Federal Reserve Chairman Ben Bernanke says the central bank will keep a close eye on the sliding U.S. dollar even as he pledges anew to keep interest rates at record-lows to nurture the economic recovery.

    In remarks prepared for delivery to the Economic Club of New York, Bernanke engages in a delicate dance.

    He makes clear Fed policymakers will keep rates at super-low levels. Yet he also is trying to bolster confidence in the dollar without actually raising rates before the budding recovery could handle such a move.

    Economists say a free-fall in the value of the dollar is remote but can't be dismissed. The low interest rates are needed to encourage American consumers and businesses to spend more and fuel the recovery.

    Copyright Associated Press, Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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