Bernanke denied he was enabling Big Government by monetizing the debt. Bernanke denied his actions would lead to out-of-control inflation. Bernanke denied he was trying to influence the political debate.
Bernanke also outlined just how the plan would boost growth:
We expect these purchases to put further downward pressure on longer-term interest rates, including mortgage rates. To underline the Federal Reserve’s commitment to fostering a sustainable economic recovery, we said that we would continue securities purchases and employ other policy tools until the outlook for the job market improves substantially in a context of price stability.In the category of communications policy, we also extended our estimate of how long we expect to keep the short-term interest rate at exceptionally low levels to at least mid-2015.