Bernanke: Fed Cannot Save Economy from Congress

Federal Reserve Chairman Ben Bernanke wants the message understood: the Fed will not be able to save the day if Congress fails to take care of its legislative business.

Life_Preserver_Artistic_SmallFederal Reserve Chairman Ben Bernanke recently warned he won’t be able to save the economy if Congress takes the country over a “fiscal cliff.”

The Fed chairman continued to sound the alarm about the “fiscal cliff” the nation is facing at the end of the year, when a slew of policy changes are set to take effect that could drain billions of dollars from the economy.

Fielding questions from reporters after the latest policy meeting by the central bank, Bernanke’s message to lawmakers was hard to miss: figure out a way to avoid the extreme policy swings set for Jan. 1, or risk throwing the economic recovery down the tubes.

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Source: Peter Schroeder | The Hill