JACKSON HOLE, Wyo. (AP) — Federal Reserve Chairman Ben Bernanke signaled Friday that Congress must do more to promote growth, or risk delaying the economy's return to full health.
Bernanke proposed no new steps by the Fed to boost the economy. But at a time when Congress has been focused on shrinking long-run budget deficits, he warned lawmakers not to "disregard the fragility of the current economic recovery."
Bernanke, who spoke at an annual economic conference in Jackson Hole, said that record-low interest rates will promote growth over time.
His speech follows news that the economy grew at an annual rate of just 1 percent this spring and 0.7 percent for the first six months of the year. Only slightly healthier expansion is foreseen for the second half.
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