Bernanke tightlipped on further QE

Federal Reserve 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 is ready to use the tools at its disposal, and will discuss its next move in an extended monetary policy committee meeting in September.   Bernanke has so far resisted calls for further stimulus measures, despite lacklustre growth and a high unemployment rate in the US. The Fed chairman 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 stab...