On the recordFebruary 28, 2011
the long-term imbalances are not just a long-term risk. They are a near and present danger.
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congress.govthe long-term imbalances are not just a long-term risk. They are a near and present danger.
Bernanke emphasizes the immediate risks of long-term fiscal imbalances.
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As I have said many times, I think that fiscal policy is focusing a bit too much on the short run, and not enough on the long run.
I think it is consistent with our mandate and with our current policy to maintain price stability, and that is what we have been achieving.
Financial risk tends to migrate around regulatory obstacles like a river flows around rocks.