There is ample room for debate about the appropriate size and role for the government in the longer term, but--in the absence of adequate demand from the private sector--a substantial fiscal consolidation in the shorter term could add to the headwinds facing economic growth and hiring.
Bernanke discusses the role of government in economic recovery amidst private sector demand issues.
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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.
monetary policy is not a panacea, so there is still plenty of room for Congress to address some of these problems
Although monetary policy is working to promote a more robust recovery, it cannot carry the entire burden of ensuring a speedier return to economic health. The economy's performance both over the near term and the longer run will depend…
It would be very concerning for financial markets and, I think, for the general public if the United States didn't pay its bills.
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