BERNANKE SPEECH: RISK AND UNCERTAINTY ARE BACK!!

GLOOM AND DOOM. For Example:

Indeed, although the Federal Reserve can seek to provide a more stable economic background that will benefit both investors and non-investors, the truth is that it can hardly insulate investors from risk, even if it wished to do so. Developments over the past few months reinforce this point. Those who made bad investment decisions lost money. In particular, investors in subprime mortgages have sustained significant losses, and many of the mortgage companies that made those loans have failed.

And;

But inflation risks remained, including still-high levels of resource utilization and elevated prices for oil and other commodities. The Committee agreed that continued close attention to inflation developments was warranted. Overall, given the great difficulty of knowing how financial conditions would evolve or the extent of their effect on the economy, Committee members judged the level of uncertainty in the outlook to be unusually high.