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Bernanke to Republicans: Stop Being the Stupid Party
Bernanke to Republicans: Stop Being the Stupid Party
Congressional Republicans have been critical of the Fed's loose monetary policies for quite some time. Today, the Fed announced that monetary policy would stay loose for the foreseeable future, and Fed chair Ben Bernanke explained that part of the reason for this is....
The austerity crusade of congressional Republicans. The Fed's official statement noted bluntly that "fiscal policy is restraining economic growth," and Bernanke expanded on that in his press conference later in the day:
Federal fiscal policy continues to be an important restraint on growth and a source of
downside risk...and upcoming fiscal debates may involve additional risks to financial markets and to the broader economy. In light of these uncertainties, the Committee decided to await more evidence that the recovery’s progress will be sustained before adjusting the pace of asset purchases.
Congressional Republicans have been critical of the Fed's loose monetary policies for quite some time. Today, the Fed announced that monetary policy would stay loose for the foreseeable future, and Fed chair Ben Bernanke explained that part of the reason for this is....
The austerity crusade of congressional Republicans. The Fed's official statement noted bluntly that "fiscal policy is restraining economic growth," and Bernanke expanded on that in his press conference later in the day:
Federal fiscal policy continues to be an important restraint on growth and a source of
downside risk...and upcoming fiscal debates may involve additional risks to financial markets and to the broader economy. In light of these uncertainties, the Committee decided to await more evidence that the recovery’s progress will be sustained before adjusting the pace of asset purchases.
Good advice, but I don't think its possible.