Congressman Barney Frank, Ranking Member of the House Financial Services Committee, released the following statement about the announcement made yesterday by Federal Reserve Chairman Ben Bernanke on behalf of the Federal Open Market Committee.

Yesterday’s decision by the Federal Open Market Committee to “maintain a highly accommodative stance for monetary policy” and to extend the period for that policy is welcome and appropriate.

In the Federal Open Market Committee’s statement the importance of the Federal Reserve’s statutory mandate to seek maximum sustainable employment was emphasized.  This is good news for American workers and their families.