In an effort to jumpstart a sluggish economy, the Federal Reserve announced new measures today that would encourage borrowing, reduce the unemployment rate and help quicken recovery from the lingering effects of the financial crisis. Fed chairman Ben Bernanke announced the plan in a press conference in which he also challenged Washington to “get serious” regarding fiscal policy measures.
While President Obama and Republican nominee Mitt Romney make their case to the American people as to who has the better economic plan, there is often debate regarding where the true power in Washington lies when it comes to stimulating growth: the central bank or the White House?
Wall Street Journal editor David Wessel makes a case for the former, saying Bernanke was a “hero” during the financial crisis, and that the country could have been worse off without his influence.
Wessel Says Crisis Could’ve Been Worse, Bernanke a Hero from on FORA.tv
