Bernanke & QE3: Here’s What You Need to Know

Becket Adams
The Blaze

Chairman Ben Bernanke sent a clear message Friday that the Federal Reserve will do more to “help” the still-struggling U.S. economy. His remarks seemed to leave two questions: What exactly will the Fed do? And when?

It’s no longer a matter of “if.” It’s going to happen.

Echoing what the Fed said in a statement after its last policy meeting July 31-Aug. 1, the chairman said they would act further, as needed, to stimulate economic growth and job creation.

He called the weak job market “a grave concern” that causes “enormous suffering,” wastes talent and can inflict lasting damage on the economy. Bernanke also described the U.S. economy’s health as “far from satisfactory” and noted that the unemployment rate, now 8.3 percent, hasn’t declined since January.

He stopped short of committing the Fed to any specific move. But in his speech to an annual Fed conference in Jackson Hole, Wyo., Bernanke said that even with interest rates already at super-lows, the Fed should do more to “help” the economy…

The article continues at The Blaze.

Related: Bernanke: Who’s up for a ride on the QE3?

…The reason why “the economic situation is obviously far from satisfactory” is because of the policies of Barack Obama on regulation, especially the sweeping and still-ambiguous powers granted under ObamaCare and Dodd-Frank.  If businesses cannot price risk, they will not invest in growth-producing activities.

Bernanke’s right about the state of the economy and job creation in the US.  Unfortunately, he and the Fed can’t fix it.

On Bernanke’s Legacy In His Own Words Bernanke was wrong.

UpdateYikes: If we thought our unemployment rate was bad now

…Take a good look — this is where our future is headed right now if we don’t make some sharp turns, and soon. Or not. No really, by all means, federal government: Please keep on with our monstrously unsustainable habit of spending money we don’t have on programs we don’t need — it’s not like our country’s prosperity or my generation’s level of opportunity are at stake, or anything.

Update 2: Debt and Loving It

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