Bernanke warns Congress

July 21, 2009

IHS Global on Bernanke’s talk-talk:

Bernanke wanted to send the message that Congress needs to prepare its own “exit strategy” from unsustainable budget deficits. His formal remarks made no mention of a possible second stimulus package (under questioning he said that the idea was “premature”), and he said that policymakers should begin planning “now” to restore fiscal balance. He didn’t offer prescriptions on what to do (whether to raise taxes or cut spending), but said that postponing choices would only make them more difficult. He said that agreement on a sustainable fiscal path could lower long-term interest rates and boost confidence – the implication being that lack of agreement would do the opposite.

2 comments

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I wanted to comment on your other article -
Nortel wireless auction may heat up …may become a bidding war…

I got a laugh out of your title and your first few comments. To the best of my knowledge an Auction is a bidding war. Thanks for making my day.
Cheers,
Robert Hildebrand

Posted by Robert Hildebrand | Report as abusive

HOW can bernanke warn anybody,When he cause all this mess,PEOPLE DON,T know that congress NEVER voted to have this so call name federal reserve,these bankers took this on them self when congress went on HOLIDAY break with no approvel from congress which they think they can make there own laws,AND DID YOU ALL KNOW THAT THESE PEOPLE ARE HOLDING AMERICANS GOLD FROM FORT KNOX AND THEY PRINT OUR MONEY WITH OUR PAPPER AND THEN THIS PEOPLE CHARGE US INTEREST ON OUR OWN MONEY,PLEASE WAKE UP AMERICANS,GET RID OF THESE DECEITFUL PEOPLE.

Posted by james | Report as abusive