Ben Bernanke actually said...

Chairman Bernanke was referring to this view when he cautioned against large and immediate spending cuts.

Bernanke warned against immediate spending cuts to avoid economic contraction.

02/08/2011

More Ben Bernanke Quotes

If there is not credit, then that affects the ability of people to buy autos and other goods and services.

I think the institution with the most experience in these kinds of resolutions is the FDIC.

I do agree with that. Fannie Mae and Freddie Mac are particular problems and issues have to be addressed.

Some of the steps we have taken, like the AIG episode, for example, obviously have hurt the Fed a lot politically.