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Ben Bernanke offers no hint of new Fed action to aid economy in Jackson Hole speech
Posted By kurtnimmo On August 26, 2011 @ 10:22 am In Global Crisis,Tile | Comments Disabled
The Washington Post
August 26, 2011
The recent swings in world financial markets pose risks to growth, Federal Reserve Chairman Ben S. Bernanke said Friday, and the Fed must be “responsive to changes in the economy.” But he offered no hints that any specific action by the central bank is on the way.
Bernanke did not spell out what any new steps by the Fed to bolster the economy might look like, saying only that the central bank will “employ its tools as appropriate” and adding that the next Fed policy meeting, in September, has been extended from one day to two to allow a fuller discussion of options.
The Fed chief gave his remarks in Jackson Hole, where economists from around the world have gathered for the annual economics symposium sponsored by the Federal Reserve Bank of Kansas City.
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