Federal Reserve Chairman Ben Bernanke says the Fed's lower forecasts for growth in 2013 and 2014 may reflect the impact of fiscal tightening and that Congress needs to reach an agreement to address budget shortfalls. "If no action were to be taken by the fiscal authorities, the size of the fiscal cliff is such that there's no chance that the Federal Reserve could or would have any ability whatsoever to offset that effect on the economy," Bernanke said.
Bernanke: Budget solution is critical to economy
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