Bernanke stuck with his speech and the verbiage that the Fed stands ready to take substantive action, but did not signal any specific level of rate cut.  His comments on recession were also interesting where he said that they do not call a recession until after it is over.  This was slightly hinting that we have been in a recession since the summer.  He also talked about the multiple fiscal stimulus packages that are being worked on and that he stands ready to review all the options.  That was positive news.

All News Releases