Federal Reserve chairman disappoints on QE

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The Independent Online

Wall Street is this weekend digesting the implications of Federal Reserve's chairman Ben Bernanke's speech to central bankers at Jackson Hole, Wyoming.

There had been hopes he would launch a new programme of quantitative easing – essentially, printing money to spend the US out of its economic problems. However, he did not point to any immediate plans to boost growth. The US insurance industry is also bracing itself for the potential impact of Hurricane Irene.