Bernanke fears serious economic consequences from burgeoning deficit

bernanke-us

Ben Bernanke, the chairman of the Federal Reserve, on February 2 said returning the US budget to a sustainable path should be the government's top priority.

At a hearing with the Committee on the Budget at the US House of Representatives in Washington, Bernanke said based on recent information from the Congressional Budget Office, the federal deficit was expected to be more than 4% of GDP in the 2017 fiscal year, assuming the economy was close to full employment. He expressed concern that the

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