On the recordFebruary 23, 2009
The worst thing that could happen is if we don't get cooperation from Europe, from Asia.
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congress.govThe worst thing that could happen is if we don't get cooperation from Europe, from Asia.
Bernanke warns about the risks of inadequate global cooperation in financial recovery.
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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.
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.
Banks are not going to lend out the reserves at a rate lower than they can earn at the Fed.