Bernanke: Recovery 'unusually uncertain'

cnn ^ | 7/21/10 | Scott Spoerry and Chris Isidore

[Nachum]

Washington (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke warned Congress Wednesday that the economic outlook remains "unusually uncertain."

In his prepared testimony for the Fed's semi-annual report to Congress, Bernanke offered the most extensive look yet at the Fed's plans for pulling money out of the system and raising short term rates, as the economy improves. But his outlook did not call for a quick recovery from the Great Recession.

[jersey117]

Earnings reports were pretty good. Can’t have profit now can we? So Bernanke comes out and does a hit job on the markets.

[skimbell]

"...economic outlook remains “unusually uncertain..."

Well, at least it wasn't unexpectedly unusually uncertain!

[Prolix]

Yup. One trick pony. In addition, the Obama administration has a lot of treasuries to sell. A little (that's a euphemism for another trillion dollar) expansion of the Fed's balance sheet will probably coincide quite nicely with some profitable auctions at the Treasury. Not that anyone from the Fed will be among the buyers - though there a few “friends of the Fed” may be.

[trailboss800]

A moron president and his moron advisors. We’re in serious trouble folks...