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Fed Chief Warns of Economic Headwinds From Budget Stalematei
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February 26, 2013 11:51 PM
Some $85 billion in automatic spending cuts will kick in Friday unless Congress and the Obama administration can agree on an alternate plan to reduce the deficit. "Sequestration," as it's called, was initially agreed upon as a threat to force lawmakers to reach a compromise. But U.S. Federal Reserve Chairman Ben Bernanke warned Tuesday that without a deal soon, the massive spending cuts pose a significant threat to the U.S. recovery. Mil Arcega reports.

Fed Chief Warns of Economic Headwinds From Budget Stalemate

Published February 26, 2013

Some $85 billion in automatic spending cuts will kick in Friday unless Congress and the Obama administration can agree on an alternate plan to reduce the deficit. "Sequestration," as it's called, was initially agreed upon as a threat to force lawmakers to reach a compromise. But U.S. Federal Reserve Chairman Ben Bernanke warned Tuesday that without a deal soon, the massive spending cuts pose a significant threat to the U.S. recovery. Mil Arcega reports.