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Bernanke may discuss new tactics to revive economy

USA Today - Aug 26, 2010

The nation's economic headquarters today shifts 2,000 miles inland to Jackson Hole, Wyo., where Federal Reserve Chairman Ben Bernanke may offer clues about what the Fed might do to reinvigorate the flagging recovery.

Bernanke will mount the podium at the Federal Reserve Bank of Kansas City's annual conference facing daunting political and economic challenges. In recent weeks, a steady flow of downbeat data revealed an economy struggling to gain momentum. Housing sales are sinking like a rock, new jobless claims remain uncomfortably high and regional manufacturing surveys are softening.

Even the economy's one bright spot business spending on computers and equipment disappointed earlier this week. Today, the government is expected to sharply lower its estimate of second-quarter growth to less than a 1.5% annual rate. "The hopes of a V-shaped recovery are essentially dashed," says Tim Duy, an economics professor at the University of Oregon

Read Full Article from USA Today

- Posted: 2010-08-26 21:29:29


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