House Budget Committee
House Budget Committee news stories
Fast, temporary stimulus would buoy flagging economy, Fed chief tells Congress
CNN Jan 17, 08 10:50 AM CST
(Newser) -
The country needs a federal stimulus package ASAP, Federal Reserve Chairman Ben Bernanke told the House Budget Committee today, advocating immediate legislation designed “so its effects on aggregate spending are felt as much as possible within the next 12 months.” But he said the package should be “explicitly temporary,” to avoid unwanted long-term stimulus and an undue deficit bulge, CNNMoney reports.
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Fed chief wants aid package that's quick and temporary
New York Times Jan 16, 08 7:51 PM CST
(Newser) -
Ben Bernanke insists he won’t take sides in a congressional fray over how to revive the nation’s flat-lining economy. But the Fed chief says he will support an economic stimulus package—be it GOP tax cuts or Democrats' increased spending—as long as it is quick and temporary, the New York Times reports. Lawmakers are scrambling to devise ways to ward off a recession, and Bernanke testifies before a House panel tomorrow.
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