This Bernanke Quote Sums It All Up

Monetary policy isn’t going to solve our problems.”

-Ben Bernanke, June 20 post-FOMC press conference

The quote above is probably the most important thing Bernanke said in today’s post-FOMC press conference. This means that if Congress can’t get fiscal policy in order, the U.S. economy will just slog along … and on this note, below are Bloomberg summaries of the Fed’s economic projections. Too optimistic? It all comes back to the quote above and whether Congress (as well as EU policymakers) can get anything done.