On the recordJanuary 27, 2010
The Senate today confirming Ben Bernanke for a second term as chairman of the Federal Reserve but by one of the smallest margins of all time: the vote 70-30.
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transcripts.cnn.comThe Senate today confirming Ben Bernanke for a second term as chairman of the Federal Reserve but by one of the smallest margins of all time: the vote 70-30.
The Senate confirms Bernanke's reappointment amid a narrow vote.
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Broadly speaking, fiscal policy both at the Federal and the State and local level is now contractionary.
The point here is to stimulate the economy, create some forward momentum in growth and employment.
The sizes of deficits and debt matter, of course, but not all tax and spending programs are created equal with respect to their effects on the economy.
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.