Bernanke repeats testimony to Congress

WASHINGTON Wed Feb 27, 2013 11:12am EST

Federal Reserve Board Chairman Ben Bernanke testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on ''The Semiannual Monetary Policy Report to the Congress.'' in Washington February 26, 2013. REUTERS/Jason Reed

Federal Reserve Board Chairman Ben Bernanke testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on ''The Semiannual Monetary Policy Report to the Congress.'' in Washington February 26, 2013.

Credit: Reuters/Jason Reed

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WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday repeated testimony to Congress, defending the U.S. central bank's monetary easing and warning Congress not let looming spending cuts take place.

"Given the still-moderate underlying pace of economic growth, this additional near-term burden on the recovery is significant," Bernanke said.

(Washington Economics Team; Editing by James Dalgleish)

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Comments (1)
jaham wrote:
Bernanke will be forced to keep the monetary pedal to the metal so long as Obama and the Democrats are fervently obsessed with burdening the private sector with more taxes, regulations and fiscal uncertainty.

Thus, I must thank the POTUS for allowing me more time to acquire single family homes with fixed mortgages at rock bottom rates.

Feb 27, 2013 1:24pm EST  --  Report as abuse
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