The Fed at Jackson Hole: Why Bother?

Don't expect much news to come of Ben Bernanke at the Fed's next big event.

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As the Fed gets deeper into its stimulus program, it's increasingly going off the map.

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"Heretofore I think these warnings have not been heeded," says Camp. That means that, even if the Fed can't singlehandedly boost job creation, it may be the only game in town, he adds: "I think the Federal Reserve has had to act as policy maker not only of last resort, but of only resort."

Danielle Kurtzleben is a business and economics reporter for U.S. News & World Report. Connect with her on Twitter at @titonka or via E-mail at dkurtzleben@usnews.com.