Economy

Fed Chief Warns of Economic Headwinds From Budget Stalematei
X
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.


You May Like

Elusive Deal With Iran Could Yield Foreign Policy Legacy for Obama

A new Iranian leader -- and a strategic shift by the United States -- opens narrow window for nuclear agreement with Tehran More

Column: Saudi-Iran Meeting Could Boost Fight Against Islamic State

The fact that Iranians and Saudis are talking again does not guarantee a breakthrough, but it could make it easier to build a broad coalition against IS More

Thai Ruler Gives Top Cabinet Posts to Junta Inner Circle

Thailand's army chief has kept an iron grip on power as he extends the government, hand-picking an interim parliament that subsequently nominated him prime minister More