Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Bernanke: Woe to Would-Be Fiscal Cliff Jumpers Bernanke: Woe to Would-Be Fiscal Cliff Jumpers

This ad will end in seconds
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation

 

Blogs / Power

Bernanke: Woe to Would-Be Fiscal Cliff Jumpers

Federal Reserve Board Chairman Ben Bernanke pauses as he arrives to give a  semiannual report to the Senate Banking Committee,  Tuesday, July 17, 2012, on Capitol Hill in Washington. Bernanke's testimony comes as job growth has slumped, manufacturing has weakened and consumers have grown more cautious about spending (AP Photo/Carolyn Kaster)

July 17, 2012

Fed Chairman Ben Bernanke painted a dire picture of what might happen if lawmakers don't find a way to resolve their differences over taxes and spending before the country reaches the so-called fiscal cliff, my colleague Catherine Hollander reports from today's Senate Banking Committee hearing.

"U.S. fiscal policies are on an unsustainable path, and the development of a credible medium-term plan for controlling deficits should be a high priority," Bernanke told the committee. "At the same time, fiscal decisions should take into account the fragility of the recovery."

The chairman pointed out two areas of concern for the economy, Hollander, writes: the loss of the recovery's momentum and the risks posed by Europe's struggling economy.

Bernanke did not commit to another round of bond-buying, known as quantitative easing, and he cited other kinds of purchase programs and a reduction in rates among other arrows in the Fed's quiver.

Read Hollander's  report here.

More Blogs
Job Board
Search Jobs
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Fire Sprinkler Inspector
American Society of Civil Engineers | Charlotte, NC
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Deputy Director of Transit Operations
American Society of Civil Engineers | San Jose, CA
Transportation Planner
American Society of Civil Engineers | Salinas, CA
Assistant Professor - Water Resources/Ecological Engineering
American Society of Civil Engineers | Auburn, AL
Product Manager - Chemical Development and Supply - Tulsa, OK
American Society of Civil Engineers | Tulsa, OK
Commissioning Intern
American Society of Civil Engineers | Chicago, IL
Assessment and Remediation Team Lead
American Society of Civil Engineers | Regina, SK
Business Development Manager
American Society of Civil Engineers
Sr. Controls Systems Engineer
American Society of Civil Engineers | Grand Island, NE
Senior Project Manager- Transportation
American Society of Civil Engineers | San Antonio, TX
Materials Engineer 2
American Society of Civil Engineers | IL
Land Surveyor
American Society of Civil Engineers
Quality Engineer
American Society of Civil Engineers | Attica, IN
Comments
comments powered by Disqus