On the recordJuly 13, 2011
It would be a self-inflicted wound, I would say.
Source
congress.govIt would be a self-inflicted wound, I would say.
Bernanke describes the consequences of failing to raise the debt ceiling as damaging.
Share & report
More from Ben Bernanke
Banks are not going to lend out the reserves at a rate lower than they can earn at the Fed.
It is also important, of course, for community banks to be well-capitalized so that they can continue to lend during difficult periods.
The economy needed help from Congress, if not from additional spending on roads and bridges, for example, then at least in areas such as retraining unemployed workers.