Summary Box: Bernanke has task of reviving economy, but persuasion may be best tool available

By AP
Thursday, August 26, 2010

Summary Box: Bernanke carries burden of turnaround

EYES ON BERNANKE: With short-term rates already near zero, Federal Reserve Chairman Ben Bernanke must try to prevent another recession by persuading people and businesses to feel confident enough about the future to spend more now.

AILING ECONOMY: Weak consumer spending and a scarcity of jobs are taking a toll. The benefits of federal stimulus programs are fading. Congress has declined to pass any major new aid.

POWERS OF PERSUASION: Besides restoring public confidence, Bernanke must forge consensus within the fractious Fed. Some officials have been reluctant to invest more of the Fed’s money.

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