Bernanke tightlipped on QE3

Chairman Ben Bernanke said the Federal Reserve will not take any immediate action to boost the US economy, but said he will employ tools "as appropriate". In his eagerly anticipated Jackson Hole speech, Bernanke said the Fed will discuss its next move in an extended monetary policy committee meeting in September. He also called on Congress to step in to help the ailing economy. "To achieve economic and financial stability, US fiscal policy must be placed on a sustainable path that ensures that debt relative to national income is at least stable or decline over time," he said. "A...