Bernanke Stays Course, Says Fed Will Consider Move in Sept.ter

The central bank chief's hotly anticipated remarks at Jackson Hole, Wyo., did not entail promises of more quantitative easing —QE3 in market parlance—nor did he discuss specific measures on whether the Fed will make any other attempts at intervention.

Citing "a range of tools that could be used to provide additional monetary stimulus," he said the Fed "will continue to consider those and other pertinent issues, including of course economic and financial developments, at our meeting in September, which has been scheduled for two days instead of one to allow a fuller discussion," Bernanke said in the speech.

As the economy languishes in low growth and stock market endures a summer correction, Bernanke's speech was considered a bellwether for what will lie ahead.

Instead, he mostly reiterated language already used by the Federal Reserve , in which it has expressed concern about the pace of economic recovery.

"It is clear that the recovery from the crisis has been much less robust than we had hoped," he said.

But the chairman seemed to put an end to talk that the Fed was willing to react simply because the stock market was in correction mode and worries have intensified that the economy could be heading for another recession