The Fed Drops the Ball by Tim Duy

Bernanke Urges Obama and Congress to Do More for Economy by Binyamin Appelbaum

In recent speeches, Mr. Bernanke had suggested that the economy did not need much more help, and that growth would pick up speed so long as the government did not interfere, for example, by making sharp cuts to short-term spending. But the Fed, like many private sector forecasters, has been too optimistic in its predictions over the last two years, repeatedly overestimating the pace of growth.