Bernanke: Fed does not want dollar any weaker

06/4/2008 | Financial Times (free content) · Bloomberg · NYTimes.com

Oil and gold prices fell sharply as Federal Reserve Chairman Ben Bernanke seemed to draw a line under the U.S. dollar's weakness. Bernanke said in a speech in Barcelona, Spain, that the Fed does not want the dollar to weaken further because of the threat that it will worsen inflation. The Fed would "formulate policy to guard against risks to both parts of our dual mandate, including the risk of an erosion in longer-term inflation expectations," he said. The dollar is down 10% in the past year.

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Financial Times (free content) · Bloomberg · NYTimes.com

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