Chairman Bernanke provided an opening statement at a press conference following a Federal Open Market Committee meeting. He noted that the economy continues growing at a moderate pace despite fiscal headwinds, and the labor market has improved with an average of 200,000 private sector jobs added per month over the past six months. However, unemployment remains elevated at 7.6%. Inflation has been below the FOMC's 2% target but is expected to gradually rise over time. The FOMC decided to continue its highly accommodative monetary policies, including maintaining an exceptionally low federal funds rate and continuing its asset purchase program of $40 billion in MBS and $45 billion in Treasuries per month. Bernanke indicated the FOMC