Yesterday Federal Reserve chairman, Ben Bernanke, addressed a meeting of the Rhode Island Public Expenditure Council.  During his speech, he did something Fed chairmen don’t usually do.  He spoke about US fiscal policy.  His words don’t really relay anything most of us don’t really know, but it is the fact that he felt compelled to say them that make them newsworthy.  After I read them, I felt his uneasiness and, like many Americans, his frustration that the political leadership doesn’t seem to understand the problem or its urgency.

A few excerpts from his speech:

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