Economics blogger Tim Duy has some interesting thoughts on Ben Bernanke's speech on Tuesday afternoon - the one where he acknowledged the economic soft patch but declined any promise of more monetary stimulus from the Federal Reserve.
"Federal Reserve officials accept the economy at face value - growth is slower than they would like, unemployment higher than they would like, but policymakers, fiscal and monetary, believe they are pretty much out of bullets. Unless the economy slips badly, don't expect any more from us. Which leaves the rest of us hoping - against hope, if recent history is any guide - that the economy regains its footing in the second half of the year."
David Berman