Fed Wants Priority Put On Deficit

Townhall.com Staff
Posted: Jun 08, 2011 11:21 AM
Fed Wants Priority Put On Deficit
WASHINGTON — The leaders of the Federal Reserve are talking like people ready to sit down and let others take the lead in addressing the nation’s economic problems.

“Monetary policy cannot be a panacea,” the Fed’s chairman, Ben S. Bernanke, told an audience of bankers Tuesday in Atlanta.

He said that growth remained slow and uneven, but he made no mention of the possibility that the Fed would intervene, noting instead that “a healthy economic future” required a plan to shrink the federal deficit.