The Fed chairman called on U.S. policymakers as quickly and decisively to reach an agreement to raise the debt limit, which did not materialize could result in a loss of confidence in global markets.
Ben Bernanke, who appeared before the Federal Budget Committee, stressed that the debt limit is a “wrong tool” for the important work of cutting the federal budget deficit.official has warned that failure to carry out an extension in the debt ceiling could have consequences as cut scores and affect the role currently played by the U.S. dollar and the bond in global markets. However, acknowledged that the current dynamics of the debt is clearly unsustainable.
| 8/4/11 |
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