When Normalcy Returns

Ben Bernanke,wearing a black suit,white shirt,and a black tie,promised that once financial conditions have become more normal,the Federal Reserve's extraordinary measures will no longer be necessary,and private counterparties will be looked to again for financing.The economy remains under considerable stress,and activity has downshifted further since September.The Fed sees the economy slowing even after financial markets improve.When they do,the Fed's Open Market Committee will ensure that the Fed's balance sheet is normalized in a timely way,Mr.Bernanke reassured.