I have a bit of a different take than Niklas – though to be sure – I like to see principle disagreement among the bloggers here at Modeled Behavior.
The statement was utterly in line with my perception of the short run situation. Very close to my perception of the long run situation. The only difference is that I think long term fiscal imbalances are not that big of a deal. However, I would never have said that outloud if I were Bernanke anyway.
I thought the way he handled the debt ceiling debacle was tactful and fairly strong from a central banker.
I thought his repeat of the phrase “is likely to warrant” was understandable though slightly more conservative than what I would have been inclined to do. I would have considered adding “if not beyond”
I also felt his insinuations that short term fiscal policy needed to expansionary was done well in the context of what an independent Central Banker should say about a highly partisan issue.
Lastly, it is of some note to me that at least on first read I do not remember seeing the phrase “as always the views presented here are my own and not representative of the FOMC” that would tend to suggest to me that the remarks should be taken with a bit more force, but I would have to think a bit more on that to be sure.