Bernanke: "Nothing on the Table at this Point" to Tackle Fiscal Crisis
Wednesday, June 9, 2010 - 11:56am
Charles Djou, the newly elected Republican Congressman from Hawaii, was questioning Federal Reserve Chairman Ben Bernanke as he was testifying in front of congress. He asked him a fairly simple question, but the problem was, Bernanke didn't have an answer.
Djou asked Bernanke if he saw any fiscal exit strategy from the United States Congress. Bernanke's response? "Right now, um, there is not anything on the table at this point." (h/t Cubachi)
Here is a transcript of the interaction:
Again, I’m reiterating this point — but I think it’s very important – we need a fiscal exit strategy. The Federal Reserve has a strategy for exiting from our monetary policy. The United States government and fiscal authorities have to have a strategy… Djou: And right now, do you see any fiscal exit strategy right now from the United States Congress? Bernanke: …Right now, um, there is not anything on the table at this point.
