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Monetary Policy Latest News: G20 Puts Growth Before Austerity, Seeks to Calm Markets

Wochit 0:58 mins

The Group of 20 nations put growth ahead of austerity, seeking to rebalance a multi-speed global economy and pledging to shift policy carefully so recovery is not derailed by volatile financial markets. Russia's finance minister said G20 policymakers have soft-pedaled on goals to cut government debt in favor of a focus on growth and how to exit central bank stimulus with a minimum of turmoil. U.S. Federal Reserve Chairman Ben Bernanke says it's ?way too early to make any judgment? about a potential decision to start reducing the central bank?s volume of asset purchases. Bernanke, appearing before the Senate a day after testifying before the House, largely repeated the themes and often the words from his previous testimony.

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