Highlights From Bernanke's Speech

Here are some highlights of the much anticipated Jackson Hole speech from Federal Reserve Chairman Ben Bernanke. -Bernanke called for education reform, and proactive housing policies. -Bernanke said the Federal Reserve extended its September FOMC meeting to 2 Days to allow for more discussion. -Bernanke says economic growth in second half likely to improve. -Bernanke says the Fed has a range of tools for stimulating growth, but did not give what they were. -He said the recovery will probably strengthen over time. -Pace of U.S. recovery has proved disappointing. -Bernanke did not signal any new steps for promoting growth. -Bernanke calls for good proactive housing policies from Congress. $$ -He said that the European sovereign debt crisis, debt ceiling and S&P downgrade all altered growth. $$ -Bernanke said the FOMC discussed the cost and benefits of additional measures at August meeting. Fed prepared to use tools as appropriate. -Bernanke expects inflation to settle at or below 2%.