Federal Reserve Chairman Ben S. Bernanke spoke to a group of senators today about the potential harm to the economy from the expiration of several pro-growth policies, Senator Kent Conrad said.
Bernanke said to a group of Democrats the scheduled end of programs including tax cuts and extended unemployment benefits could pose a risk to the U.S. expansion, said Conrad, a Democrat from North Dakota.
“If all those things happened, that would constitute a fiscal cliff, and that would have economic consequences,” Conrad said.
Conrad declined to characterize Bernanke’s message about the potential impact from the expiration of the pro-growth policies. Bernanke also described the current condition of the economy, Conrad said.