Bernanke calls tax code "inefficent," supports $600 billion bank stimulus

Ben Bernanke, the Federal Reserve Chairman, said he supported the Fed's decision to put $600 billion into the banking system to assist recovery in an economy he said is riddled in rising inequality, according to the New York Times.

Bernanke gave a rare interview to 60 Minutes, which aired Sunday, giving opinions on fiscal policy, a topic he usually avoids, according to the New York Times.

Along with supporting the jolt in the banking system that was decided on last month, Bernanke said the tax code needs to be reformed, calling it "inefficient," according to the New York Times.

Bernanke also said it could be up to five years before the unemployment rate is "normal" again, reacting to a disappointing jobs report released by the government last week, according to CNN.

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This page contains a single entry by zittl005 published on December 5, 2010 10:43 PM.

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