Bernanke: Stimulus Benefits ‘Clear,’ Budget Cuts a Risk

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February 26, 2013 4:03 pm est

Feb 26th 2013 11:00am est

Federal Reserve Chairman Ben Bernanke strongly defended the U.S. central bank’s bond-buying stimulus before Congress on Tuesday, saying its benefits clearly exceed possible costs. The Fed chairman also urged lawmakers to avoid sharp spending cuts set to go into effect on Friday, which he warned could combine with earlier tax increases to create a “significant headwind” for the economic recovery.

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