Bernanke on ‘Gale Force’ Whipping Through Economy

Federal Reserve Chairman Ben Bernanke sounded understandably ominous when talking about the national economy today at a Fed retreat in Jackson Hole, Wyo.

According to The Times:

Inflation has accelerated to levels not seen for decades, even as the housing slump and weak job market take a toll on household spending.

Indeed, Mr. Bernanke opened his speech by describing the financial crisis as a “gale force” and said the nation faced “one of the most challenging economic and policy environments in memory.”