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: 小泽玛利亚一区二区三区视频 | 日韩视频在线观看一区二区 | 亚洲精品久久久久久久久 | 亚洲v在线| 天天天天天天天操 | 美女国产网站 | 国产黄色片在线播放 | 九九九免费视频 | 99精品久久久久 | 国产91页| 欧美黄色大片免费看 | 四虎永久免费地址 | 久久久777 | 久久久久久久久爱 | 日日日视频 | 国内精品一区二区三区 | 一区二区三区精彩视频 | 91精品国产综合久久精品图片 | 一区亚洲 | 亚洲欧美在线观看 | 午夜在线不卡 | 成人污视频在线观看 | 色综合天天综合网天天狠天天 | 91手机视频在线观看 | 成年人在线免费观看 | 一区二区三区亚洲 | 欧洲猛交xxxx乱大交3 | 亚洲成a人片在线www | 欧美日韩一区视频 | 国产成人在线免费观看视频 | 久久精品无码一区二区三区 | 日韩精品在线观看免费 | 日本中文字幕在线观看 | 天天干免费视频 | 免费观看亚洲 | 高清欧美性猛交 | 欧美精品hd | 日本一二三区在线视频 | h色网站在线观看 | 国产113页 | 五月婷丁香 |