U.S. Economic Outlook and Monetary Policy

Federal Reserve Chair Ben Bernanke testified about the Federal Reserve Board's semiannual report on monetary policy. In his remarks he said the U.S. would not slip back into recession, unless the Congress failed to deal with the series of tax increases and spending cuts set to take effect in January. He also expressed opposition to a bill making its way through the House that would allow Congress to review monetary decisions made by the Federal Reserve.