Meeting at the federal open Market Committee, Federal Reserve chairman ben bernanke talks to reporters about the fed decision to continue its Asset Purchase Program. Mr. Mackeys term as fed chairman ends in january andthis briefing is one hour. Good afternoon. The federal open Market Committee fomc concluded a twoday meeting earlier today. As you already know from our statement, the committee decided today to keep the target range for the federal funds rate at 0 to 1 4 percent and to make no change in either its Asset Purchase Program or its Forward Guidance regarding the federal funds rate target. I will discuss the rationales for our decision in a moment. Economic growth has generally been proceeding at a moderate pace, with continuedalbeit somewhat unevenimprovement in labor Market Conditions. Of course, to say that the job market has improved does not imply that Current Conditions are satisfactory. Notably, at 7. 3 percent, the Unemployment Rate remains well above acceptable levels
Onwsmakers this week represents the First District and chairman of the Republican Study Committee. Welcome. Two reporters with us. Jake sherman of politico and paul kane of the washington post. Just saw you passed a resolution to keep the government open until mid december. You have this language stripping obamacare funding. Even ted cruz has admitted that when it goes to the Senate Harry Reid has the votes and is probably going to be a post to be able to strip it and send it back to the house. You have 48 hours or so to decide what to do next. What do you do next . The first thing we do is pass a bill over to the senate that keep government funded while also defending the president S Health Care law along with the full faith and credit act to ensure the fault is not an option for a nations debt. Is not an option for a nations debt. If you look at all of the problems that we hear across the country about the president S Health Care law, this is an unworkable bill. It is so unworkable t
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