In his speech to an annual Federal Reserve conference in Jackson Hole, Wyo., Chairman Ben Bernanke signaled that the Fed will take more action if the economy and job market don’t improve.
Bernanke spoke in detail about the Fed’s recent policies, in particular its two rounds of bond purchases. He argued that those actions have helped the economy recover from the Great Recession. The goal has been to drive down loan rates and encourage borrowing and spending.
Bernanke noted that the economy could suffer years of damage if unemployment remains high.