日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

   

Bernanke warns of possible recession

(Agencies)
Updated: 2008-04-02 22:48

"I hope that you will use your position to jawbone this administration to get behind the housing relief effort before Congress." Schumer said. "Addressing the housing crisis head-on will do as much to instill confidence in the markets as lowering interest rates or bolstering regulatory oversight of wayward mortgage lenders and financial institutions. We need to do all of it."

"Wall Street has been helped. Now it's time to help Main Street," added Rep. Carolyn Maloney, D-N.Y.

Special coverage:
Subprime Crisis Aftermath

Related readings:
 US economy nearly stalled in 4th quarter
 Weak dollar costs US economy  world No 1 spot
 Bush: US economy in tough time
 US Economy: It's unfolding!
 
US economy 'on the edge' of a recession
 Analysis: Sharp job drop suggests US economy in recession
 Bernanke warns of worsening US economy

Many private analysts believe the economy contracted in the first three months of this year, signaling the start of a recession. The government releases first-quarter results later this month. The economy lost jobs in January and February, with many economists bracing for more losses when the report for March is released on Friday. Bernanke said he expected unemployment to move "somewhat higher in coming months."

"Clearly, the US economy is going through a very difficult period," he told lawmakers, adding that all the problems have weighed heavily on consumers whose spending is indispensable to economic vitality.

The Fed also has taken a series of extraordinary steps in recent weeks and months to prop up the nation's financial system, which has been in state of high jeopardy.

In a controversial move, the Fed backed a $29 billion lifeline as part of JP Morgan's deal to take over the troubled Bear Stearns, the nation's fifth largest investment house, which was on the brink of bankruptcy. Bear Stearns had invested heavily in risky mortgage-backed securities that eventually soured with the collapse of the housing market.

Bernanke defended the move. "With financial conditions fragile, the sudden failure of Bear Stearns likely would have led to a chaotic unwinding of positions in those markets and could have severely shaken confidence," he said. "The damage caused by a default by Bear Stearns could have been severe and extremely difficult to contain."

In addition, the Fed - in the broadest use of its credit authority since the 1930s - agreed to temporarily let big investment firms obtain emergency financing from the Fed, a privilege that previously had been granted only to commercial banks.

Those actions have prompted criticism from Democrats and others who contend that the Fed is bailing out Wall Street and putting billions of taxpayers' dollars at potential risk. Fed officials and the Bush administration say the actions were warranted to avert a potential meltdown in the entire financial system, something that would have devastating consequences for the overall economy.

   1 2   


Top World News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 成人福利av | 国产三级在线观看视频 | 亚洲精品1区2区 | 在线色网 | 蜜桃视频久久 | 高清一级片 | 日本久久中文 | 精品成人在线 | 亚洲第一网址 | 99热这里只有精 | 一区二区精品视频在线观看 | 毛片网站免费观看 | 欧美在线激情视频 | 99久久99久久精品国产片果冻 | av色哟哟 | 艳妇乳肉亭妇荡乳av | 九九九视频 | 久久久久网站 | 亚洲第九十七页 | 一区二区三区国产精品 | 亚洲高清视频在线 | 国产成人免费视频 | 国产一二三av | 天天操天天草 | 免费在线成人 | 国产黄a三级| 综合网色| 日本美女bbw | 日韩中文字幕在线观看 | av在线资源观看 | 日本爽爽爽 | 久久久在线视频 | 黄页网站在线看 | a在线视频| 久久国产精品一区二区 | 伊人久久大香线蕉综合网站 | 亚洲精品久久 | 亚洲五码在线观看视频 | 日韩精品区 | 中文字幕一区av | 日本高清视频网站 |