Bernanke: No QE3 in sight

Ben Bernanke has signalled the US will not undertake another round of quantitative easing, claiming the country's recovery is ticking along at "a moderate pace."

The chairman of the Federal Reserve said loose monetary policy cannot be viewed as a "panacea" for the US as it recovers from the worst financial crisis since the great depression of the 1930s, according to the Financial Times. Bernanke's comments, which came in a speech in Atlanta yesterday, undermine chances of a third round of QE being implemented, despite weak data on growth and employment. Job figures released last week revealed the US saw only 54,000 new jobs created in May, well below . Meanwhile the country's economic growth figure came in at 1.8% in Q1. Bernanke said altho...