Bernanke may be feeling vitriolic about the lack of urgency among elected officials to do anything about the unemployment problem in America.
His official remarks, however, simply reminded Congressional leaders that "Fiscal policymakers can also promote stronger economic performance through the design of tax policies and spending programs."
He might have wanted to tell Congressional leaders: The Fed has done everything it can to fix this mess. Now it's your turn. You need to do something. Get it?
Instead, he wrote: "Most of the economic policies that support robust economic growth in the long run are outside the province of the central bank."It's not too hard to read between the lines of this speech, but I fear that such subtlety is beyond the grasp of most of the folks up on Capitol Hill. Maybe this translation will help, but I kind of doubt it.
--Written by Glenn Hall in New York.