
As U.S. Fed chiefs met in Jackson Hole, Wyoming to discuss ways of preventing another credit crisis, CNBC's Steve Liesman asked top economic minds for their insight on the government's actions.
Oil prices, the dollar, growth, inflation -- and the credit crunch. It's a challenging combination of short-term problems and long-term solutions.
Fed officials believe the ecomomy and markets are a lot better off because of the central bank's actions, even if the landscape still look bleak, reports CNBC's Steve Liesman from the conference.
Bear Stearns is gone, oil prices are still too high and the mortgage market remains a mess. Regulators need to be as vigilant -- and proactive -- as ever.
Federal Reserve Chairman Ben Bernanke has taken unprecedented steps over the past year to battle the nation's worst financial crisis in decades. Some say he's been innovative and brilliant. Otherts say he's gone too far.
Economists Ethan Harris of Lehman Brothers and John Lonski of Moody's review the Fed chairman's record and draw different conclusions about his level of success.
"Although downside risks to growth remain, the upside risks to inflation are also of significant concern," the committee concluded, pledging it will "continue to monitor economic and financial developments and will act as needed...."