Bernanke says European crisis poses risks

Bernanke says European crisis poses risks Federal Reserve chairman Ben Bernanke said the European crisis poses “significant risks” to the US economy but offered no direct hint of Fed action, in his testimony to the Joint Economic Committee in Washington.
“The situation in Europe poses significant risks to the US financial system and economy and must be monitored closely,” said Mr Bernanke in prepared testimony to Congress. “As always, the Federal Reserve remains prepared to take action as needed to protect the US financial system and economy in the event that financial stresses escalate.”
The cautious remarks may suggest that Mr Bernanke prefers not to act preemptively against risks from Europe but instead to intervene robustly if the outcome across the Atlantic is bad.

http://link.ft.com/r/A1TNOO/AMBSRE/9ZA4GU/GD1KC1/SPI87Z/4O/h?a1=2012&a2=6&a3=7