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December 12, 2017
Thursday, June 7, 2012

'Fed is monitoring significant risks for the US from Europe crisis'

Federal Reserve Chairman Ben Bernanke said today the central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.

Bernanke told Congress the Fed was monitoring "significant risks" to the US recovery from Europe's debt and banking crisis closely.

"The Federal Reserve remains prepared to take action as needed to protect the economy in the event that financial stresses escalate," Bernanke said in his prepared testimony.

"Despite economic difficulties in Europe, the demand for exports has held up well," he said.

His comments stood in sharp contrast to those of Fed Vice Chair Janet Yellen, who late yesterday made the case for further monetary stimulus to insure against the risk of a downturn.

Bernanke made no such suggestions, but he did tell legislators tighter fiscal policies set to kick in early next year barring congressional action "would, if allowed to occur, pose a significant threat to the recovery."

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Tags:  Bernanke  Fed  US  economy  Europe  debt  crisis  stimulus  





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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia