Published on 31st August 2012
At a highly anticipated speech in Jackson Hole, Wyo., Friday, Federal Reserve Chairman Ben Bernanke called the sluggish pace of job growth a "grave concern," reiterating in prepared remarks that the Fed is prepared to do more to stimulate stronger growth. In a speech set to be given at 8 a.m. CT, Bernanke may have disappointed Wall Street's hopes in giving no clear signal that the Fed will take action at its mid-September meeting. "The stagnation of the labor market in particular is a grave concern," he said at the Kansas City Fed's annual symposium that attracts an elite group of global central bankers and prominent economists. [USA Today]