In his annual speech at Jackson Hole, Wyoming, CNNMoney tells MHProNews Federal Reserve Chairman Ben Bernanke talked up providing more stimulus for the economy, saying the two previous rounds of asset purchases improved financial markets and led to two million jobs. Previously, the Fed intimated it would provide stimulus only if the economy further weakens, but now it seems to be saying stimulus may come if the economy remains static. Said Bernanke, “The odds are strong that the Fed’s asset purchases will make money for the taxpayers, reducing the federal deficit and debt. And, of course, to the extent that monetary policy helps strengthen the economy and raise incomes, the benefits for the U.S. fiscal position would be substantial.” In 2010 at the annual symposium Bernanke hinted that the government might initiate the bond-buying program, but did not begin until more than two months later.
(Photo credit: CNNMoney/Fed Chairman Ben Bernanke)