Fed Chair Bernanke paints gloomy economic outlook
Federal Reserve Chairman Ben Bernanke testified before Congress on Tuesday and gave little cause, if any, for celebration. “It would (allowing the tax cuts to expire) probably knock the recovery back into a recession and cost a lot of jobs, and would greatly delay the recovery that we’re hoping to facilitate,” said Bernanke at the end of two hours of testimony Tuesday before the Senate Banking Committee, according to the Associated Press.
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