Chairman Ben Bernanke sent a clear message Friday that the Federal Reserve will do more to “help” the still-struggling U.S. economy. His remarks seemed to leave two questions: What exactly will the Fed do? And when?
It’s no longer a matter of “if.” It’s going to happen.
Echoing what the Fed said in a statement after its last policy meeting July 31-Aug. 1, the chairman said they would act further, as needed, to stimulate economic growth and job creation.
He called the weak job market “a grave concern” that causes “enormous suffering,” wastes talent and can inflict lasting damage on the economy. Bernanke also described the U.S. economy’s health as “far from satisfactory” and noted that the unemployment rate, now 8.3 percent, hasn’t declined since January.