Bernanke Says Fed Watching Illinois, California Fiscal Woes
Federal Reserve Chairman Ben S. Bernanke said the central bank is monitoring fiscal difficulties of U.S. states, including California and Illinois, as a potential risk to the economy.
“We watch those very carefully,” Bernanke said to the Senate Banking Committee today in Washington. “We don’t see any immediate risk there. We don’t think it is analogous to the European situation.”
California and Illinois have had “more difficulty” than some other states, he said.
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