The chairman of the US Federal Reserve, Ben Bernanke, has said that the US still faces “difficult choices” in cutting the country’s deficit.
In prepared comments to Congress’ Joint Economic Committee, he said that action could not be delayed.
Mr Bernanke added that weakness in the construction sector was still weighing on the economy.
His cautious comments about the recovery come despite data showing a 1.6% increase in March retail sales.
“Addressing the country’s fiscal problems will require difficult choices, but postponing them will only make them more difficult,” Mr Bernanke said.
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BBC–Ben Bernanke cautious on US recovery
The chairman of the US Federal Reserve, Ben Bernanke, has said that the US still faces “difficult choices” in cutting the country’s deficit.
In prepared comments to Congress’ Joint Economic Committee, he said that action could not be delayed.
Mr Bernanke added that weakness in the construction sector was still weighing on the economy.
His cautious comments about the recovery come despite data showing a 1.6% increase in March retail sales.
“Addressing the country’s fiscal problems will require difficult choices, but postponing them will only make them more difficult,” Mr Bernanke said.
Read it all.