Bernanke says further easing hinges on jobs

The Federal Reserve may try to push borrowing costs even lower if the job market continues to languish, Fed Chairman Ben Bernanke said on Thursday, offering a hint of what might trigger additional monetary easing.

After three quarters of solid growth, the U.S. economy has been losing steam, with firms still reluctant to hire and the housing sector seemingly unable to exit a prolonged rut.

Bernanke's comments accompanied Labor Department data on Thursday showing new claims for state unemployment benefits spiked to 464,000 last week.

With fears of a "double-dip" recession mounting in recent weeks, Bernanke reassured lawmakers the Fed is prepared to take further steps if the situation worsens appreciably.

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- Posted: 2010-07-22 13:50:01

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