Bernanke says jobs, growth will pick up after June (by Greg Robb)
WASHINGTON (MarketWatch) -- Federal Reserve Chairman Ben Bernanke on Tuesday acknowledged "somewhat slower than expected growth" but said the U.S. economy will pick up in the second half of the year and inflation will moderate. "I expect hiring to pick up from last month's pace as growth strengthens in the second half of the year," Bernanke said in a speech to international bankers meeting in Atlanta. He said the Fed's $600 billion bond purchase program will wind down by the end of the month and gave no hint the central bank was considering a third round of purchases. He repeated that rates will remain low for an "extended" period of time.