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El-Erian: What Bernanke Is Trying to Tell the Markets

“Federal Reserve Chairman Bernanke traveled to Capitol Hill this morning for his periodic appearance before the Joint Economic Committee of Congress.

Ben Bernanke
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Federal Reserve Board Chairman Ben Bernanke testifies before the Joint Economic Committee on Capitol Hill June 7, 2012 in Washington, DC.

He delivered a careful and balanced view of the economy (a gradual healing in the context of a still-muted outlook growth and jobs), re-iterated the improved banking and financial conditions at home (stressing the major additions to bank capital), and referred to the strains in Europe (acknowledging that they act as a drag on the US economy).”

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