Bernanke to Reiterate Fed Minutes at Jackson Hole, El-Erian Says
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Ben S. Bernanke probably won’t provide specific plans for further monetary action at the Federal Reserve Bank of Kansas City’s annual Jackson Hole symposium this week, according to Pacific Investment Management Co. Chief Executive Officer Mohamed El-Erian.
The Fed signaled last week it’s ready to take further steps to spur the economic recovery. Many policy makers said additional stimulus probably will be needed soon unless the economy shows signs of a durable pickup, according to minutes released Aug. 22 of the central bank’s most recent meeting, on July 31-Aug. 1. Fed Chairman Bernanke is scheduled to speak on Aug. 31 at the economic-policy conference in Wyoming.