Bernanke says Fed ready to do more

The US recovery continues at a 'modest' pace but has not been permanently scarred by the financial crisis, according to the chairman of the Federal Reserve

Federal Reserve Chairman Ben Bernanke said today the central bank stands ready to provide further support to a persistently weak economy, but didn't indicate any move was imminent despite fresh signs of feeble growth.

In a much-anticipated speech to global monetary policymakers gathered in Wyoming, Bernanke didn't elaborate on the central bank's remaining tools to boost the economy, which could have been a sign that the Fed was leaning towards action. Instead, he said the Fed would extend its mid-September meeting to two days to discuss options the central bank could pursue.

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