At last year's meeting, Bernanke prepared the market for QE2 -- a bond-buying program that is widely credited for supporting stocks earlier this year.

While markets are hoping for Bernanke to say that QE3 is on the way at this year's event, most economists don't believe the Fed chief will signal any changes in monetary policy.

Market wants Bernanke to be Mighty Mouse...

Stocks may recover. But don't expect much.

There also has been chatter in the bond market about how Bernanke could bring back a modified version of the 1960s " Operation Twist" program. The Fed could sell short-term debt and buy longer-term bonds in order to further flatten the yield curve (even though there is some concern it's already too flat) without adding to its already overstuffed balance sheet.

NOTE: " Bernanke is the market whisperer. Whether you agree with him or not, it's clear that investors are going to follow his every word. And he needs the markets to be higher," she said. " If a higher stock market inspires confidence, that could be a key way to help the Fed indirectly fulfill its jobs mandate."