June 10, 2010 Reading Time: < 1 minute

“Federal Reserve Chairman Ben Bernanke warned Wednesday that “the federal budget appears to be on an unsustainable path,” but also recognized that an “exceptional increase” in the deficit had been necessary to ease the pain of recession.

In nearly two hours of testimony before the House Budget Committee, Bernanke offered a mix of optimism and a reality check. He pointed to numerous signs of improvement in the economy, but cautioned that gains in the vital housing sector have been shallow and remain vulnerable.” Read more.

“Federal Reserve chief says U.S. budget on road to peril”
The Dallas Morning News, June 10, 2010.

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