October 4, 2011
WASHINGTON (AFP) – Federal Reserve Chairman Ben Bernanke on Tuesday said the United States may face yet more slow jobs growth, as he warned short-term budget cuts and financial turmoil could further threaten the economy.
In an address to Congress, Bernanke said recent indicators “point to the likelihood of more sluggish job growth in the period ahead,” as he urged lawmakers to do what they can to boost the recovery amid the ongoing crisis in Europe.
The Fed chief told lawmakers that a credible plan to cut long-term deficits was needed urgently, but one that should “avoid fiscal actions that could impede the ongoing economic recovery.”
This article was posted: Tuesday, October 4, 2011 at 11:16 am