Federal Reserve Chairman Ben Bernanke today called on Congress and the President to take the lead in boosting the economy.
The chairman’s much anticipated message to Washington was clear: set aside short-term political interests and do something helpful for a change.
In a fit of optimisim, investors responded favorably. The Dow, Nasdaq and S&P 500 were all up in afternoon trading.
The $4 trillion question is whether the pols will take Ben’s message to heart. Given the current tone of the presidential primary campaign, that seems unlikely. I hope I’m wrong and the pols can agree on a plan to light a fire under the economy.
Photo: Federal Reserve chairman Paul Bernanke, right, and Jean-Claude Trichet, of France, president of the European Central Bank, take a morning stroll on the veranda of the Jackson Lake Lodge, before the morning session of the Economic Policy Symposium at Jackson Hole in Moran, Wyo., Friday, Aug. 26, 2011. (AP Photo/Reed Saxon)