Washington: Federal Reserve Chairman Ben Bernanke told Congress yesterday that record-low interest rates are still needed to ensure that the US econ-omic recovery will last and to help ease the sting of high unemployment.
In his twice-a-year report to the House Financial Services Committee, Bernanke struck a confident tone that the recovery should endure. But he also sought to tamp down expectations.
The moderate economic growth the Fed expects will lead to only a slow decline in the nation's nearly double-digit unemployment rate, he said.
