Bernanke Pushes Congress to Act; GOP Shoves Back on Jobs

Republicans press Bernanke on institution's role, effectiveness on employment.

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Though lawmakers clearly have established firm and largely partisan positions on both sides of this line, they were united today in their desire for Bernanke to predict the future. As always, the Fed chairman was measured in his responses. He predicted that Operation Twist would provide "moderate support" to the economy, though it is not expected to "radically change the picture." And as to the now-perennial question of whether there would be a third round of quantitative easing, Bernanke responded that the Fed never takes an option off the table, but added, "We have no immediate plans to do anything like that."

  • See where the population of same-sex couples is growing.
  • Read about how the housing slump affects cities' fiscal health.
  • Read analysis of how Operation Twist might help (or hurt) the economy.