Bernanke makes no monetary policy mention

BERLIN, Sept. 11 (UPI) -- A "global saving glut" is helping to keep interest rates low, U.S. Federal Reserve Chairman Ben Bernanke said in a speech to a German central bank conference.

Bernanke did not mention current U.S. economic or monetary policy issues.

The Fed's interest-rate setting Federal Open Market Committee is to meet next Tuesday to discuss interest rates.

Market analysts expect the central bank to lower the benchmark federal funds rate -- the rate at which banks lend to each other -- from the current 5.25 percent.

The cut -- to limit the effect of a housing a credit squeeze on the overall economy -- would be the first decrease in more than four years, but Fed watchers are unclear if any cut would be a quarter-point or a half-point.

In prepared remarks, Bernanke also said "factors other than the saving-investment balance affect long-term interest rates.

"Accordingly, we are again reminded of the need to maintain appropriate humility in forecasting returns and asset prices," he said.