Article on Bernanke Speech

Bernanke Presses China on Imbalances, Echoing Obama
By SEWELL CHAN and JACK EWING

Ben S. Bernanke, the Federal Reserve chairman, argued Friday that currency undervaluation by China and other emerging markets was at the root of “persistent imbalanc

Bernanke Presses China on Imbalances, Echoing Obama
By SEWELL CHAN and JACK EWING

Ben S. Bernanke, the Federal Reserve chairman, argued Friday that currency undervaluation by China and other emerging markets was at the root of “persistent imbalanc

Bernanke Presses China on Imbalances, Echoing Obama
By SEWELL CHAN and JACK EWING

Ben S. Bernanke, the Federal Reserve chairman, argued Friday that currency undervaluation by China and other emerging markets was at the root of “persistent imbalanc

Bernanke Presses China on Imbalances, Echoing Obama
By SEWELL CHAN and JACK EWING

Ben S. Bernanke, the Federal Reserve chairman, argued Friday that currency undervaluation by China and other emerging markets was at the root of “persistent imbalanc

Mr. Bernanke, in a speech at a European Central Bank conference in Frankfurt, warned that a “two-speed global recovery,” with the richest countries lagging behind fast-growing emerging markets like China and India, was hampering the cooperation the worldwide recovery needs, echoing a main point the Obama administration made — with limited success — when leaders of the Group of 20 economic powers gathered last week in South Korea.

Mr. Bernanke’s speech argued that unemployment in the United States is at “unacceptable” levels, and gingerly waded into the fiscal policy debate roiling Washington.

Speakers at a conference in Washington, organized by the libertarian Cato Institute, warned that the Fed’s monetary policy could lead to asset-price bubbles like the housing boom that crashed in 2007.