Federal Reserve Chairman Ben Bernanke testified today before President Obama’s commission tasked with dealing with the federal deficit. He did not mince words when he said that failure to pay down the huge federal deficit would cause “great damage” to the U.S. economy. Bernanke said that current government spending is on “an unsustainable path”. The Fed Chairman advocated the committee to develop a plan to pay down the federal deficit, which hit a record amount of $1.4 trillion last year. Large portions of the debt are a result of recent economic bailout efforts and the cost of fighting multiple wars.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio