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Coats to Bernanke: Is the Fed Being an Enabler?

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WASHINGTON, DC – In a Joint Economic Committee (JEC) hearing on the national economic outlook, Senator Dan Coats (R-Ind.) today questioned Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System, on whether the Fed’s monetary policy is allowing Congress to delay action on a credible, long-term fiscal policy.
In the hearing, Coats suggested that Congress and the administration need to summon the political will to address our nation’s long-term debt problem, rather than continuing to dependon the Fed’s unprecedented monetary policy, which keeps interest rates artificially low.
“I am starting to hear that the Fed is buying us time so therefore we don’t need to take action right now,” said Coats in the hearing. “Is the Fed being an enabler for an addiction that Congress can’t seem to overcome?”
Click here to watch Coats’ questioning in the JEC hearing.
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