In highly anticipated remarks at the Jackson Hole economic summit in Wyoming, Federal Reserve chairman Ben Bernanke said Friday that the central bank plans to be "forceful... in supporting a sustainable recovery" in the U.S. as the European financial crisis and looming budget cuts and tax hikes threaten to drag the economy down further. "We must not lose sight of the daunting economic challenges that confront our nation," Bernanke said. "The Federal Reserve has acted to support economic growth and foster job creation, and it is important to achieve further progress." Bernanke did not hint that any specific action was imminent, and he isn't expected to announce any new policies Friday.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why Israel can no longer let the Palestinian Authority be responsible for security in the West Bank
- Why you should really take a nap this afternoon, according to science
- Here's the schedule very successful people follow every day
- Why you shouldn't eat dog. Not even once.
- 10 things you need to know today: July 26, 2014
- What would a U.S.-Russia war look like?
- 7 things the world's happiest people do every day
- How to cook a perfect rib eye steak
- How social conservatives became a minority in need of protection
- Grammar quiz: Do you know the passive voice?
Subscribe to the Week