January 17, 2008 / 4:50 PM / 12 years ago

Cash to low income people could help economy-Bernanke

WASHINGTON, Jan 17 (Reuters) - Federal Reserve Chairman Ben Bernanke said on Thursday that helping those with low and moderate income could stimulate the economy.

“There is good evidence that cash that goes to low and moderate income people is more likely to be spent in the near term,” Bernanke told the House of Representatives Budget Committee, in response to questions about whether increasing food subsidies for consumers should be part of a stimulus package.

“Food stamps and some of these other things are relatively small to the overall size of a package,” he said, noting other components may be more effective.

Reporting by Lisa Lambert, Editing by Chizu Nomiyama,

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