On Friday, Federal Reserve Chairman Ben Bernanke gave a speech in Jackson Hole, Wy., in which he noted that the economy is in worse shape than it was at last year’s annual conference. “The [Federal Open Market Committee],” he said, “is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly.”
Unconventional measures? It’s about time! We had a few thoughts.