Federal Reserve Chairman Ben S. Bernanke outlines what he expects for U.S. growth in the coming year as the central bank releases its policy statement. He'll also face TV cameras and reporters during a quarterly news conference.
Reporters, editors and other analysts will live blog what policymakers say -- and what they don't say. We'll also follow the stock market's gyrations and other reactions.
The main question for today: Will Bernanke be able to reassure the world that the central bank has a plan for scaling back its unprecedented efforts to boost the economic recovery. And can he be vague enough about exactly what the plan involves to avoid boxing policymakers into a corner as they try to exit from their stimulus policies without damaging the recovery.
The Fed's stimulus efforts began nearly five years ago. And, with the economy showing signs of improvement, exactly how will it all wind down? The central bank's statements and prognosis for economic growth will be very telling.
Even Bernanke’s Jackson Hole answer is unclear.— Matt Yglesias (@mattyglesias) June 19, 2013
Jackson Hole isn't just another conference. It's the one hosted by the regional Fed that almost never agrees with anything Bernanke says.— Binyamin Appelbaum (@BCAppelbaum) June 19, 2013
Just once I wish #bernanke would drop the microphone at the end of one of these things, scream "peace out"— Joe Bel Bruno (@JoeBelBruno) June 19, 2013
Benchmark 10-yr Treasury bond yield spiked after Fed meeting, hitting high for 2013, with 2.32% intra-day high— Andrew Tangel (@AndrewTangel) June 19, 2013
When Bernanke says QE2 for quantitative easing, I think he's talking about the huge cruise ship, QE2, which could be a metaphor for economy.— AlanaSemuels (@AlanaSemuels) June 19, 2013
Stocks fall about 1% as investors digest Fed and Bernanke statements http://t.co/FNYUkkPpYa— LAT Money & Co. (@latimesmoneyco) June 19, 2013