Fed Chief to Keep US Interest Rates Down

Fed Chairman—Ben Bernanke signaled that there would be no immediate tightening of fiscal policy, as he is committed to low interest rates for an extended period.
Bernanke said that the ongoing weakness in the labor market, coupled with low inflation, justifying a continuation of the Obama of the stimulus measures that maintain a promise to a low base rate for as long as necessary.
The markets welcomed the statement, sending the Dow Jones more than 100 points in the middle of the U.S. trading day at 10385.35, in spite of the fact that figures indicating new property sales slumped in January by more than 11%.
In a speech in front of the Congress, the Fed chairman warned that the downturn is still taking its toll on American workers.