stock market outlook week august 29 2011 : The Federal Reserve chairman, Ben S. Bernanke, said Friday that the economy was recovering and the nation’s long-term prospects remained strong, an upbeat assessment that offered little indication of any plans for additional measures to bolster short-term growth.
Mr. Bernanke’s much-anticipated remarks follow the Fed’s announcement earlier this month that it intended to hold short-term interest rates near zero until at least the middle of 2013, a reflection of its view that growth will not be fast enough during that period to drive up wages and prices.
Mr. Bernanke was careful to note that the nation faces significant challenges, including high unemployment and an unsustainable federal debt. But the speech, delivered at a policy conference held each August in Grand Teton National Park, marked a return to the Fed’s position earlier this year that the Fed has done most of what it can, and that the rest of the government must do more.
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