Testifying before the Joint Economic Committee this morning, Federal Reserve Chairman Ben Bernanke said he’s ready to act if the economy weakens. But he seems to think specifying how he would act is above his pay grade.
Maybe he should seek the advice of the confidence fairies.
But no worries, he has options:
He did offer a clue about when he’d be ready to take unspecified actions.
But then he slipped in that there isn’t actually much he can do.
At least the U.S. isn’t like Greece.