The Associated Press's Tim Paradis reported today that Federal Reserve Chair Ben Bernanke told Congress that interest rates are likely to remain low for the near future. Bernanke said, "The economy still requires support for recovery."
Many investors see these low rates as a boost to a recovery of employment and business.
This news also softened the impact of a report that housing sales hit a new low in January.
As you have read here, my greatest fear is of a return to 1970's interest rates and rampant inflation. So, for at least now, there is a sign of relief. Hopefully, this will be the course mainted. Stay tuned.
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