The country's near-term actions -- which include dedicating $700 billion to stabilize the financial system and a $787 billion economic recovery package -- were necessary, he said.
Nevertheless, he added, "maintaining the confidence of the financial markets requires the we, as a nation, begin planning now for the restoration of fiscal balance."
Wednesday, June 03, 2009
Bernanke's speech
Today, Ben Bernanke mentioned that they are going to work on plan for Quantitative Tightening (reducing the money supply)... but not in those exact words. This is a positive sign. Only time will tell if his rhetoric matches his actions.
