Here It Comes: Bernanke Says Fed Could Introduce "Some Special Lending Programs" In Case Of European Debt Crisis Spillover
Actually, the quote was in the "unlikley" case of spillover from European debt crisis. Even the Chairmesiter has a sense of humor. But the meaning is clear. We are on the verge: a few more negative data points (guaranteed), and/or just a month before all of PIIGSy Europe gets back from vacation (around August 15), realizes it still has no pensions, bonuses and 14th monthly salary, and proceeds to storm various parliaments, and the Fed will be back, baby.