Obsolete Certainty

Federal Reserve Chairman Ben Bernanke today spoke at the Economic Club of New York. The topic of his speech was the Outlook for the Economy and Policy . While nothing groundbreaking was said, I do want to recap his comments and point out a few observations. Bernanke opened with the usual mixed message, progress has been made but several considerable challenges lie ahead… "financial conditions are considerably better than they were then, but significant economic challenges remain. The flow of credit remains constrained, economic activity weak, and unemployment much too high. Future setbacks are possible." I don't like making Ben look like a politician, but at this point one of the biggest factors affecting his outlook and the market's perception of our economic well-being…(read more)