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JEKYLL ISLAND, Ga. — Federal Reserve chairman Ben Bernanke defended the Fed’s new $600 billion program to aid the economy on Saturday, rejecting concerns that it will spur runaway inflation.
Critics, including some Fed officials, fear that all the money being injected into the economy could ignite inflation or speculative bubbles in the prices of bonds or commodities. Speaking to a conference on the Georgia coast, Bernanke said the program, announced Wednesday, won’t push inflation to “super ordinary” levels.
