"Several members of the Federal Reserve’s policymaking committee said they would consider expanding efforts to stimulate the U.S. economy if threats to the recovery worsen, according to minutes of the panel’s April meeting.
Officials cited several factors, including tax increases and spending cuts set to take effect in January that could limit the economic recovery, according to records of their discussion released Wednesday. Tax increases you say? Color me surprised, not.
Pers
Fed officials also said Europe’s financial problems pose a significant threat to the economy Hold that thought.— and that was before keep holding the latest concerns about political and financial disarray in Greece.
Most alarming from the story is this:" If the problem appears politically intractable at the end of this summer or even sooner, Sinai said, “I can almost guarantee you our stock market will have a major sell-off.”
Rewind time-----On March 13 of this year,, Bernanke said the following about Greece and Europe:According to Federal Reserve Chairman Ben Bernanke, it's no big deal for the U.S. The man who famously assured us in 2007 that the subprime lending crisis was "likely to be contained," now vows that he'll protect the "U.S. financial system and the economy" from Europe's mess. Yeah, uh, right, Bennie.
And in April:
Bernanke also said that European governments had taken a number of constructive policy actions aimed at solving their debt crisis. And he said the mild recession in Europe should not have a big impact on the U.S. recovery. Mild recession?? Good Lord. Does he really think we are that stupid?
Which is it, Bend over Bernanke?? Never mind. We really don't need your wise input or advice, because anyone with half a brain can see where we're heading. Hello economy? Meet cliff.
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