Bernanke at Jackson Hole: No More Easing, For Now

The markets didn't move up on a big gap, but didn't respond too badly to what ben has to offer..

Full article here: Bernanke at Jackson Hole: No More Easing, For Now 

Federal Reserve Chairman Ben Bernanke delivered a mostly somber message on growth Friday, but offered no further central bank action to stimulate the moribund economy.

CNBC Ben Bernanke in Jackson Hole on August 31, 2012.

In his much anticipated speech from the central bank summit in Jackson Hole, Wyo., Bernanke reiterated his position that the Fed's Open Markets Committee stands at the ready to provide help but is not yet unleashing additional stimulus.

As Bernanke's remarks were reported on CNBC, the stock market initially ceded most of its gains but then bounced back on speculation that Bernanke may be building the case for more easing further down the road.

Bill Gross, head of bond giant Pimco, said on Twitter that the remarks make more stimulus "a near certainty" though "increasingly impotent."

Further Fed action is viewed with wariness in Washington as legislators worry about the potential inflationary effects from central bank money printing. But Bernanke contended that the risks are "manageable."

"The hurdle for using nontraditional policies should be higher than for traditional policies," he said. "At the same time, the costs of nontraditional policies, when considered carefully, appear manageable, implying that we should not rule out the further use of such policies if economic conditions warrant."