On the recordFebruary 8, 2011
It is very important to have a good education system, and we are not doing well on that count.
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congress.govIt is very important to have a good education system, and we are not doing well on that count.
Bernanke highlights the inadequacies of the current education system.
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monetary policy is not a panacea, so there is still plenty of room for Congress to address some of these problems
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.
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.
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.