Ben Bernanke (Photo by Mark Wilson/Getty Images)
When Fed Chair Ben Bernanke called the economic outlook "unusually uncertain" on Wednesday, markets reacted by taking a dive. When Bernanke returned to the House Financial Services Committee on Thursday, he amended his previous statement and said that the Federal Reserve was open to assisting the economy if necessary. This helped the stock market rally after the previous day's dip.
Louise Story, Wall Street and finance reporter for The New York Times, reports on what the Fed can do to help the economy.
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Comments [1]
The USA is broke in more ways than one. It has reached debt saturation and is sleepwalking into economic depression. Debt Deflation is the driving force but Bernanke and Co are all part of the highly paid clueless class. To get the real world picture read up on one of the few economists who gets it - Steve Keen from Australia.
http://www.debtdeflation.com/blogs/
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