On the recordJuly 13, 2011
This would be very bad for jobs.
Source
congress.govThis would be very bad for jobs.
Bernanke warns that raising interest rates due to default would negatively affect job growth.
Share
More from Ben Bernanke
Financial risk tends to migrate around regulatory obstacles like a river flows around rocks.
Undesirable boom-bust cycles that ultimately lead to both a less stable economy and higher inflation
Lower paid workers, as well as women and minorities, are over-represented in the most affected sectors, and, thus, have borne a disproportionate share of the job and income losses.