Ben Bernanke, Federal Reserve Chairman, gave a speech to the central bankers and economist in Wyoming with his strongest words yet.
Bernanke’s pledge was to assure everyone that still has worries about the economy that they will do everything in their power to avoid a relapse and further recession. Other experts at the meeting contest that fiscal policy needs to play a bigger role in the further recovery of the economy.
In the midst of all the financial tape being reported and hypothesis being made, the Labor Department’s jobs report is being heavily anticipated. The release of the Department’s report is due on September 3rd. It was also noted that factories increase in growth was at their slowest rates in almost a year.
At the last meeting the Fed had with central bankers, it was noted that more “baby steps” would probably have to be made and additional stimulus would probably be needed at some point in time for the future.
