On the recordFebruary 28, 2011
If you do not do that, it would have very negative effects on financial markets and on our economy.
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congress.govIf you do not do that, it would have very negative effects on financial markets and on our economy.
Warning about the consequences of not addressing the debt limit.
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More from Ben Bernanke
monetary policy is not a panacea, so there is still plenty of room for Congress to address some of these problems
Finding a way to deal with that issue I think is the most challenging part but has the biggest payoff.
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.
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.