Not looking too comfortable, Fed Chairman Ben Bernanke faced the House’s Financial Services Committee, where legislators pushed him on how quantitative easing is “eating the lunch of our seniors who can’t fill up their tanks,” inflating asset bubbles, and helping Wall Street at the expense of average Americans. Bernanke once again defended his policies, noting the best way to raise interest rates is, paradoxically, to keep them low in order to support stronger economic growth, and that QE aids this process. While several Republican members of the House made good points, they many times ended up speaking over the Fed Chairman, failing to allow him a response.
Not looking too comfortable, Fed Chairman Ben Bernanke faced the House’s Financial Services Committee, where legislators pushed him on how quantitative easing is “eating the lunch of our seniors who can’t fill up their tanks,” inflating asset bubbles, and helping Wall Street at the expense of average Americans. Bernanke once again defended his policies, noting the best way to raise interest rates is, paradoxically, to keep them low in order to support stronger economic growth, and that QE aids this process. While several Republican members of the House made good points, they many times ended up speaking over the Fed Chairman, failing to allow him a response.