[QODLink]
Americas

'Fiscal cliff hurts US economy'

Federal Reserve Chairman says political disagreements on tax increases and spending cuts hurt the economy.
Last Modified: 13 Dec 2012 07:06

According to Ben Bernanke, the chairman of the United States Federal Reserve, the US economy has been affected by the political disagreements over how to deal with the country's debt.

Bernanke says that if there is no agreement on tax increases and spending cuts to ward off the "fiscal cliff", it will hurt the economy for years to come.

Al Jazeera's Patty Culhane reports from Washington D.C.

67

Source:
Al Jazeera
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
Mother of jailed Al Jazeera journalist Abdullah Elshamy says her son's ordeal highlights the value of press freedom.
French Jews and Muslims say recent National Front victories in mayoral races reflect rising xenophobia.
Western fighters have streamed into the Middle East to help 'liberate' Arab countries such as Syria and Libya.
The Pakistani government is proposing reform of the nation's madrassas, which are accused of fostering terrorism.
Featured
Survivors of Bangladesh garment factory collapse say they received little compensation and face economic hardship.
As Iraq prepares to vote, deadly violence is surging. But at the site of one bomb attack, people insist life must go on.
French Jews and Muslims say recent National Front victories in mayoral races reflect rising xenophobia.
Up to 23,000 federal prisoners could qualify for clemency under new Justice Department initiative.
After years of rapid growth, Argentina is bracing for another economic crisis as inflation eats up purchasing power.
join our mailing list