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VOL. 37 | NO. 12 | Friday, March 22, 2013
Bernanke: Low interest-rate-policies benefit trade
WASHINGTON (AP) — Chairman Ben Bernanke says the Federal Reserve's low-interest-rate policies are helping to boost growth around the world and have created markets for products made in developing nations.
In a speech at the London School of Economics, Bernanke staunchly defended the policies and similar stimulus efforts by other central banks since the 2008 financial crisis. Some critics have argued that the low-interest-rate policies could feed a global currency war, which is lowering currency values to make products more competitive on global markets.
Bernanke said the current efforts should support stronger trade flows by boosting growth in major economies so that they could buy more goods from developing countries.