WASHINGTON (Reuters) - For a Federal Reserve chairman who is worried about politics interfering with monetary policy, Ben Bernanke is taking on some awfully heated political topics. Echoing comments from White House and Treasury officials, Bernanke said last week that if Congress failed to raise the government's borrowing limit, it could force the United States into a "catastrophic" default. He urged lawmakers not to use the debt ceiling as a "bargaining chip" in debates over taxes and spending -- which some Republicans have threatened to do. The Treasury Department has said it may breach the $14.3 trillion debt ceiling as early as April 5 unless it is raised.Link
Monday, February 7, 2011
For Bernanke, no escaping politics now.
WASHINGTON (Reuters) - For a Federal Reserve chairman who is worried about politics interfering with monetary policy, Ben Bernanke is taking on some awfully heated political topics. Echoing comments from White House and Treasury officials, Bernanke said last week that if Congress failed to raise the government's borrowing limit, it could force the United States into a "catastrophic" default. He urged lawmakers not to use the debt ceiling as a "bargaining chip" in debates over taxes and spending -- which some Republicans have threatened to do. The Treasury Department has said it may breach the $14.3 trillion debt ceiling as early as April 5 unless it is raised.Link
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