Federal Reserve Chairman Ben Bernanke'​s latest "Semiannual Monetary Policy Report to the Congress says, "We are relying on near-​zero short-​term interest rates, together with our forward guidance that rates will continue to be exceptionally low--​our second tool--​to help maintain a high degree of monetary accommodation for an extended period after asset purchases end, even as the economic recovery strengthens and unemployment declines toward more-​normal levels. In appropriate combination, these two tools can provide the high level of policy accommodation needed to promote a stronger economic recovery with price stability. In the interest of transparency, Committee participants agreed in June that it would be helpful to lay out more details about our thinking regarding the asset purchase program--​specifically, to provide additional information on our assessment of progress to date, as well as of the likely trajectory of the program if the economy evolves as projected. This agreement to provide additional information did not reflect a change in policy."

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