Bernanke: Fiscal Policy Too Focused on Short Run

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July 17 (Bloomberg) -- Federal Reserve Chairman Ben Bernanke speaks during testimony before the House Financial Services committee.

Current fiscal policy?

As i have said many times, fiscal policy is focusing a bit too much on the short run, not enough on the long run.

The near term policies which include the sequester and tax increases and other measures, according to the cbo, cutting a percentage point and a half.

1.5% from growth in 2013. at the same time, congress has not addressed a lot of long run issues where sustainability remains not yet achieved.

So, yes, my suggestion to congress is to consider possibilities that involve somewhat less restraint in the near term, and more action to make sure we are on a sustainable path in the long run.

I think that is broadly consistent with the imf's perspective.

This text has been automatically generated. It may not be 100% accurate.


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