On the recordMarch 16, 2011
If you do not act in the next 2 weeks, we will have a global financial meltdown.
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congress.govIf you do not act in the next 2 weeks, we will have a global financial meltdown.
Bernanke warns of imminent financial collapse if action isn't taken quickly.
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I would argue that it is not responsible to focus all of the restraint on the very near term and do nothing about the long term.
The challenge for the Congress and the Administration is to put the Federal budget on a sustainable long-run path that promotes economic growth and stability without unnecessarily impeding the current recovery.
Congress sets the mandate for the Federal Reserve, and so Congress has the right to set the mandate of course any way it likes.
I sincerely believe our central bank's actions have provided critical support for our Nation's economic recovery.