The Federal Reserve chairman blames the nasty debt-limit battle for disrupting the markets and 'probably the economy as well.' He encourages job creation, tax cuts and federal spending.
Read the story here - Ben Bernanke urges Obama, Congress to strengthen recovery - Los Angeles Times
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But, he basically punted on what he can do. As the Chairman of the Fed, he still has a great deal of power to influence monetary policy. If I am not mistaken, he wrote a paper slamming the Japanese for not taking agressive enough action about 10 years ago in what led to the 'Japanese Lost Decade' and you could say that the American economy is in worse shape.
ReplyDeleteSo I think some of the blame does fall on him.