A small economic policy group is pulling off a major coup by hosting a speech by Federal Reserve Chairman Ben Bernanke.
Bernanke's luncheon speech to the Economic Club of Minnesota on Thursday will be closely scrutinized for any hints on what steps the Fed might take at its next policymaking meeting Sept. 20-21 to stimulate the economy. A Fed report Wednesday said the economy grew only modestly in its 12 bank regions this summer.
The club's directors include three former Minnesota congressmen and several high-ranking current or retired Minnesota corporate executives.
The group says it's modeled after similar organizations such as the Economic Club of New York and the Detroit Economic Club. It says it aspires to be a leading venue for major speeches on economics and public policy.
There are hopes that the Federal Reserve will soon decide to provide the U.S. economy with another monetary stimulus. The previous $600 billion program, which ended in June, was widely credited for the stock market gains recorded in the first over the year and its ending has been blamed for the ensuing reverse.
Fed chairman Ben Bernanke is also speaking later and investors will be monitoring his speech to the Economic Club of Minnesota for any signs that monetary easing remains an option.
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