Fed chief to Congress: Don't end stimulus spending

Discussion in 'Economy' started by Neubarth, Jul 22, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Bernanke urges Congress not to slash spending or raise taxes during the economic recovery

    WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke says the fragile economy still needs government stimulus spending to strengthen the recovery and help reduce unemployment.

    Bernanke tells lawmakers that Congress should come up with a credible plan to reduce the government's record-high budget deficits in the long run. But he says they shouldn't move to slash spending or boost taxes, or undertake some combination of both right now.

    He says: "I believe we should maintain our stimulus in the short term."
    Fed chief to Congress: Don't end stimulus spending - Yahoo! Finance[/quote]
     
  2. KissMy
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    Bernanke: Fed ready to ease if economy weakens
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    Bernanke does not see the coming collapse that I fear. His belief is that the Federal Government and the FED has done enough right now with no projected further increase in spending. (though there is an outside chance that further "easing" might be necessary.

    I am not convinced that this "further easing" will be sufficient. Though I score well on IQ tests, I am no Bernanke. I guess we just have to trust him and hope and pray he is right.
     
    Last edited: Jul 22, 2010
  4. KissMy
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    Dollar extend its loss after bigger than expected rise in jobless claims filling
    Wow gold has been on a 3 week losing streak due to rising confidence in the euro. Now the US monetary easing & unemployment are killing the dollar. Time to buy more gold as it just snapped its losing streak. Bernanke just gave gold a $12 pop! This economy is failing so government is getting ready to throw serious money at it for a long time.
     
    Last edited: Jul 22, 2010
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    The Existing Home Sales drops and reverses previous reading
    AISE SteelNews: World Crude Steel Production Dips 4.4% in June
     
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    CrusaderFrank Diamond Member

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    Rut Rho Rorge, now Obama is proudly claiming that ObamaCare is the biggest tax hit in human history.
     
  7. KissMy
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    Breaking news: Bernanke slams U.S. economy! What to do...
     

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