Bernanke confirms stimuli again: "more confirmations are needed on the labor market"

The Fed needs more confirmation on labor market progress before it starts tapering stimulus to the economy. For this Bernanke in today's monetary policy meeting, the first monthly meeting after the appointment of Janet Yellen to her succession, confirmed the entire asset purchase plan of 85 billion dollars a month and kept the cost of borrowing unchanged between 0 and 0,25%. The central bank also reiterated that interest rates will remain at low levels until unemployment falls to 6,5%. Also because inflation is currently under control, consumer prices rose by 0,2% in September. Position that the FOMC led by Bernanke has expressed almost unanimously, except for Esther L. George (Kansas City Fed), worried about the risk of imbalances. Thus, if a start of tapering is not ruled out for December, operators are more inclined to think that tapering could slip into early 2014. Unemployment, despite some improvements in the labor market, remains high and the Committee has decided to wait for further confirmations on the progress of the labor market before changing the level of purchases.