Aug 31 - Fed Chair Ben Bernanke says the Federal Reserve will provide more help for the tepid recovery as needed in his policy speech in Jackson Hole.
With markets waiting for all Fed Chairman Ben Bernanke's big speech in Jackson Hole Wyoming. I'm joined now by Reuters that correspondent Alastair bull ouster the big question QE3 more likely. The speech was very careful to not get ahead or what the committee will decide next month. So what's interesting is that the chairman went through the coasts and the benefits of doing additional action. He spent a lot of time talking about the cost of the explicitly didn't rule them out he said it more action was warranted they did it. That meets the threshold the markets have been waiting for which was sort of matching the rhetoric in the minutes of the loss -- But he absolutely didn't signal that they were gonna do it. Didn't take it for type a lot. So of the markets I have to be ought to hold a little bit longer this question it. We're also raise some other interesting issues -- for instance he spoke about if there was some. Heightened concern -- some interesting choice of words -- news. It was interesting he went through the problems of the US economy than facing any notes that the credit availability of and one of them then he said. That in fact of the moment. That risk has been replaced in the car occupant consents but what's happening in Europe and significantly heat. Said that he found that suggestions that the ECB may intervene in both markets cameos from Spanish and tell them that in come on bull markets. -- quite constructive and that he said he was important that they take action so that's a very. Emphatic encouragement from the Federal Reserve. That the ECB do something. Whereas here in Jackson Hole we had expected president ECB Mario Draghi to come. To this conference as well he hasn't come stay home a well called the plan that the markets waiting to hear from the ECB next week at a meeting on -- -- on the domestic front we had a lot of words about the US job market this is what we're hearing from the presidential. Candidates is what everyone's talking about the issue we got some of his comments about the problems labor. So what we hope. What we were listening carefully full was that he maintained the emphasis on concern on the short form in the labor market and he did do that he met that threshold. Good -- -- -- the Fed meeting. At the end of July and the first. -- the first of August had rating in the feet anticipation of some action the minutes amplified on that. He talked again and found. How long it's gonna take food that sort of gap between content unemployment writes about 5% and -- Policy makers think they would -- -- -- to close. He emphasized that and he he voiced disappointment with the speed with which the economy. Has been responding to what they've done which has been you know a lot so -- He kept it on the table he did not -- Out a -- -- -- touch with you later thanks so much. I'm Rhonda -- this is Reuters.