Though "nervous investors" are waiting anxiously to hear what Federal Reserve Chairman Ben Bernanke has to say later this morning when he speaks at the Federal Reserve Bank of Kansas City's annual economic policy conference in Jackson Hole, Wyo., in reality he "isn't likely to break much new monetary-policy ground," The Wall Street Journal's Real Time Economics blog writes.
Of course, anytime a Fed chairman speaks — and especially when the U.S. economy isn't faring well — there's lots of attention paid even if no surprises are likely. So we're seeing headlines such as these:
— "Stocks Brace For Bernanke." (CNN.com)
— "Bogeyman Bernanke Brings Out The Market's Sellers." (Forbes' Exile on Wall Street blog)
— "The Only Thing We Have To Fear Is Fear At The Fed." (The Economist)
Bernanke's address is set to get started at 10 a.m. ET. It is not due to be broadcast. But the text is supposed to be posted here at some point and the Fed is usually pretty good about putting transcripts up as well. We're also expecting to hear from NPR's Scott Horsley, who is covering the conference. So we'll be posting on the news as soon as possible.