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Keyword: fedchief

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  • Fed chief to Congress: Don't end stimulus spending (fragile economy still needs it. Thanks, Dems!)

    07/22/2010 9:55:14 AM PDT · by NormsRevenge · 11 replies
    AP on Yahoo ^ | 7/22/10 | Jeannine Aversa - AP
    WASHINGTON – Federal Reserve Chairman Ben Bernanke told Congress Thursday that the fragile economy still needs government stimulus spending to strengthen the recovery and help reduce unemployment. Testifying before the House Financial Services Committee, Bernanke did urge lawmakers to come up with a credible plan to reduce the government's record-high budget deficits in the long run. But he said they shouldn't move now to slash spending or boost taxes, or undertake some combination of both. "I believe we should maintain our stimulus in the short term," Bernanke said as he spoke about the economy's challenges for the second straight day...