WASHINGTON — A bill to further jump start the economy would be“appropriate” but should include provisions to increases the flowof credit and not increase the deficit too much, Federal ReserveChairman Ben Bernanke told lawmakers today.

“If Congress proceeds with a fiscal package, it should considerincluding measures to help improve access to credit by consumers,homebuyers, businesses and other borrowers. Such actions might beparticularly effective at promoting economic growth and jobcreation,” he said in testimony before the House BudgetCommittee.

Congress is scheduled to return for a post-election lame ducksession in November and leaders of both chambers have talked aboutpassing another bill designed to improve the economy. They havesaid the measure would include increases is unemployment benefitsand food stamps and additional funds to improve theinfrastructure.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.