Federal Reserve Chairman Ben Bernanke Tuesday said the Fed cannot single-handedly neutralize the impact of the so-called fiscal cliff that the economy may tumble over come January 1.

"We will continue to do our best to add monetary policy support to the recovery," Bernanke said during a question-and-answer period following a luncheon address to the Economics Club of New York. But he added that "the ability of the Fed to offset headwinds is not infinite. We have certain tools. We have used our easiest tools."

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