February 26th, 2013
11:07 AM ET
10 years ago

Bernanke warns Congress it could hurt economic rebound

Washington (CNN) - The economy is expanding again, Federal Reserve Chairman Ben Bernanke told Congress Tuesday, but he warned that what lawmakers do about the looming forced budget cuts could slow the upward trend.

The economy has picked up after an unexpected fourth quarter 2012 when growth was close to zero, he said in his twice-a-year report on monetary policy.


Filed under: Ben Bernanke • Congress • Debt • Deficit
soundoff (32 Responses)
  1. Dominican mama 4 Obama

    Wake up People!

    Dude. Where have you been the last 4 years??? That is exactly what the GOP wants. Anytime people are salivating, hoping for bad job reports, having w&t dreams when the unemployment rate goes up and one of your members quoted as saying, their main goal is to make the POTUS a one term POTUS, there is nothing left to say. These same people that claim to be so patriotic, have no problem throwing 99% of America under the proverbial bus.

    Hats off to the republikkkan party.....
    Great post babe!

    February 26, 2013 12:46 pm at 12:46 pm |
  2. Pete

    Rick McDaniels and other ignorent republican posters fail to realize that it was a republican led congress that passed this sequester deal with Pres.Obama happily signing it knowing he just signed your partys death warrent,how stupid can you people be when he walks you to the gallows ,gives your party the rope and after putting it around your partys neck he tells you jump and you do...Now tell us Rick who's the ignorent ,obstructionistic,racist party is and who's going to be slaughtered politically come midterms,you lost miserably this past election losing seats in congress and senate ,plus the presidencial and you'd think it would be a wake up call for your idiots but no their arrogence overshadowed their ignorence again and don't say we didn't warn you because we most happily many times didn't we democrates,indepentants here!!!

    February 26, 2013 12:49 pm at 12:49 pm |
  3. Guest

    Low Intelligence Beaurocrats Employing Rhetoric Above Legislation.....

    February 26, 2013 12:51 pm at 12:51 pm |
  4. just sayin

    our economy is over 16,000,000,000,000. cutting 47-85,000,000,000 from it is miniscule, a drop in the bucket of a huge economy. get a grip people. if cutting this small amout causes a problem it is because the people doing the cutting want to make it as painful as possible to vaoid any cutting at all.

    so if we follow the "balanced approach" of obama, we need to raise taxes by $500 billion and cut $500 billion of spending. well, let obama get some practice with these little bitty cuts.

    February 26, 2013 12:59 pm at 12:59 pm |
  5. Rick in OP

    Chairman Bernanke,
    Please explain how you are going to unwind all of those bond purchases ($3 trillion worth) that the Federal Reserve bought ed at interest rates that will in all likelihood be significantly lower than when the bonds are sold?

    February 26, 2013 01:00 pm at 1:00 pm |
  6. Donna

    Bernanke has sold his soul to Obama and the devil. He has been printing money non-stop to try and keep the economy afloat and buy these trillions in debt Obama is generating. The value of our currency is dropping and prices are rising. All this to keep the fantasy Obama jobless "recovery" alive. He said it himself, he is out of tricks.

    Our economy is so messed up from massive government interference and spending and now the Fed doing stupid things that the economy will likely never get back to where it was. Especially now with the addition of Obamacare and Dodd/Frank. The private sector has been trying to tread water to stay alive but all Obama and Bernanke do is throw it lead weights and yell "tread harder and faster".

    February 26, 2013 01:29 pm at 1:29 pm |
  7. Guest

    Tax and spend, the liberal demise of our once great nation is upon us. STAND AND FIGHT AMERICANS OR YOUR FREEDOMS WILL BE NO MORE!

    February 26, 2013 02:11 pm at 2:11 pm |
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