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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"Republicans criticized the Federal Reserve today for working to reduce unemployment"
WASHINGTON Congressional Republicans criticized the Federal Reserve on Thursday for working to reduce unemployment and revive the housing market rather than maintaining a single-minded focus on inflation.
The Feds chairman, Ben S. Bernanke, was sharply questioned by members of a House committee about the Feds announcement last week that it plans to hold short-term interest rates near zero until late 2014, a measure that the Fed described as necessary to support a faster pace of economic recovery.
I think this policy runs the great risk of fueling asset bubbles, destabilizing prices and eventually eroding the value of the dollar, said Representative Paul Ryan, the Wisconsin Republican who chairs the House Committee on the Budget. The prospect of all three is adding to uncertainty and holding our economy back.
Mr. Bernanke was calm and careful in his responses, but he did not back down. He told the committee that the economy, the housing market in particular, would need help for years to come from the Fed and Congress.
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http://www.nytimes.com/2012/02/03/business/economy/fed-chief-focuses-anew-on-us-debt.html?_r=1&hp
Rex
(65,616 posts)Not that anyone could help him out to save jobs...GWB was King AntiMidas.
LiberalEsto
(22,845 posts)ProfessionalLeftist
(4,982 posts)Their pretentious hypocrisy is showing. Again. How many jobs bills did this congress submit so far? Oh that's right. Zero.
pansypoo53219
(20,976 posts)the inflation rate should be raised to reward savers. NOT spenders.