Bernanke warning: Avoid ‘fiscal cliff’

Bernanke warning: Avoid ‘fiscal cliff’

Fed head also says Great Recession left lasting damage
Federal Reserve Chairman Ben Bernanke, in a speech Tuesday to The Economic Club of New York, says if Congress and the Obama administration do not agree on ways to avoid the billions of dollars in tax increases and spending cuts required by the fiscal cliff, the Fed does not have the tools to soften the damage it would do to the economy.

Bernanke warning: Avoid ‘fiscal cliff’

Federal Reserve Chairman Ben Bernanke, in a speech Tuesday to The Economic Club of New York, says if Congress and the Obama administration do not agree on ways to avoid the billions of dollars in tax increases and spending cuts required by the fiscal cliff, the Fed does not have the tools to soften the damage it would do to the economy.
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