Sun, Jan 09, 2011 - Page 11 News List

Economy picking up: Fed head

SLOW AND STEADY:Both the chairman and the governor of the Fed said that the recovery seemed to be picking up, but hiring and inflation would remain subdued

Reuters, WASHINGTON

At the same time, Bernanke came down hard on what he described as an unsustainable long-term fiscal path.

“Doing nothing will not be an option indefinitely,” Bernanke said. “Diminishing confidence on the part of investors that deficits will be brought under control would likely lead to sharply rising interest rates on government debt and, potentially, to broader financial turmoil.”

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