On the recordJuly 13, 2011
We need to do something big, strong.
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congress.govWe need to do something big, strong.
Bernanke calls for significant action on fiscal stability.
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making derivatives safer is very important, part of solving Too Big to Fail and preventing another financial crisis.
Yes, my suggestion to Congress is to consider possibilities that involve somewhat less restraint in the near term and more action to make sure that we are on a sustainable path in the long run.
Large deficits in debt over a long period of time raise interest rates above levels where they normally would be and crowd out private investment and are bad for growth and productivity.
Finding a way to deal with that issue I think is the most challenging part but has the biggest payoff.