Did Bernanke take a swipe at Washington?

Economists and bankers gathered together today at Jackson Hole, Wyoming to listen to Fed Chairman Ben Bernanke’s views on the economy (text at Fed’s website).

As expected, he acknowledged growth has been far from robust and detailed some of the policy actions the Fed might take to ensure the economy won’t slide into an new recession.

One interesting comment he made regarding the lackluster job recovery:

“Firms are reluctant to add permanent employees, citing slow growth of sales and elevated economic and regulatory uncertainty.”

Bernanke did not elaborate on what he meant by elevated regulatory uncertainty, but newly-passed healthcare and financial reform and the remote possibility that cap and trade legislation could still pass in a lame duck session of Congress come to mind.

With the economy emerging from the worst recession in over 70 years and a jobless recovery all but guaranteed at least through the end of the year, it is important for the president and Congress to focus on economic activity and help alleviate the burdens millions face on the unemployment roles.

Pet agendas should be set aside until the economy is on a much firmer footing. At that point, robust debate can begin.