Bernanke to Senate Democrats: Don't expect more stimulus
But Bernanke said he’s done all he can to boost confidence through monetary policy, putting the ball in Congress’s court.“He’s said he’s done all he can do on the monetary side, and I think it’s probably accurate,” said Senate Democratic Whip Dick Durbin (Ill.), who attended the meeting. “Now it’s up to us.”
A Senate Democratic aide said Bernanke’s statement makes it all the more important to pass a $35 billion measure to prevent layoffs to teachers and first responders.
“That’s right, we need to pass a jobs bill, and that’s what we’re trying to do,” said the aide.
Bernanke attended the Democrats’ weekly policy lunch in the Senate Mansfield room, where he fielded questions from lawmakers anxious about the economic outlook.
Most of the session was devoted to discussing the debt crisis in Europe, which senators fear could further tighten business credit.
Bernanke told lawmakers that he and other senior U.S. economic officials have recommended to European leaders steps to avoid a financial crisis.
Earthtimes (press release)They couldn't be applied, for example, at most Spanish construction companies, which aren't expected to return any time soon to selling as many houses as Stimulus Doesn't Rouse Spainall 29 news articles »