Bernanke Doesn't Commit to More Fed Action
Jackson Hole, WY, Aug. 31, 2012 -- Federal Reserve Chairman Ben Bernanke gave no indication Friday that the Fed would provide additional stimulus anytime soon.
However, he noted that progress in bringing down U.S. unemployment was too slow and the central bank would act as needed to strengthen the economic recovery.
The speech also suggested that Bernanke is concerned about the possible effects of unconventional monetary policy.
"It is important to achieve further progress, particularly in the labor market," Bernanke said.
"Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability."