Bernanke: Fed will not buy European sovereign debt.......Other than the European sovereign debt they already own.
Bernakne: additional steps available for central banks, BUT they are not understood and they have costs and risks!!!!!!!
Bernanke: prepared to protect US financial markets and economy if HOPE doesn't work out.
Bernanke: Volker rule positive....could have prevented JP Morgan $2 bil loss
Bernanke: Blames rest of world(EU,Japan,etc) for slow growth in US. Plus housing market. And finally state and local fiscal governments.
Bernanke: Fiscal Cliff is the problem of congress. Hopes they don't kick can down the road...........
Bernanke: World central banks consulting with each other....not coordinating........
Bernanke: all steps taken by FED and EU have risks associated with them.