WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke on Wednesday acknowledged that the pace of economic growth is likely to be "frustratingly slow," after the Fed downgraded its forecast for the next two years.
Bernanke said the central bank is open to purchasing more mortgage-backed securities to boost the struggling housing market, if conditions worsen. But he declined to offer details about what would trigger such a decision.
"We remain prepared to take action as appropriate to make sure the recovery continues," Bernanke said during a news conference after the Fed's two-day meeting.
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