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Well Fed Chairman Ben Bernanke saying guess what it's way too early to judge whether economic growth will pick up late in the year.
Physicals as he wraps up a second day of questioning before congress the -- -- Capitol Hill with more from mr.
Bernanke -- Play -- that the answer that question is important because depending on how the economy unfolds.
The Fed could begin to start tapering it -- its quantitative easing.
Bond purchases that 85 billion dollars a month.
Designed to help push down interest rates on all auto loans and business loans and mortgages.
The chairman has said and repeated again today that it it.
That they'll do it depending on how the -- this coming and but he offered a little bit more explanation on the Fed's thinking as to what Matt might have been causing some of these missed -- mixed economic indicators.
That we've seen in the last.
Court this current quarter.
Take a lesson.
Theory of the case if you will.
Is that one of the reasons that the economy has been so slow.
In the early part of -- thirteen is because of fiscal factors.
It's hard to judge how long those factors will last but if if we if the economy begins to move beyond that point and fiscal restraint becomes somewhat less -- Then we should see as you suggested yourself.
-- pick up in in growth.
So that seems to be what the Fed is waiting on to see if if the tax increases on the spending cuts here.
I start to to fade.
As the rest of the year progresses here now we.
But -- So that the -- -- on on this kind of campaign you know testifying and talking giving speeches to try to.
Educate investors on what the Fed's plans ours ours Q egos and we got a little over partner interest or reaction from economists that you are -- yesterday he said quotes the markets reaction to Bernanke's.
Can you hear me now testimony.
Has suggested that the answer is yes now we can actually.
Skeptical while the got there in the end the -- change gears a little bit treated as news on the nomination.
The long stalled nomination of Thomas Perez for a labor secretary with the latest in that situations.
That that the senate approved his nomination.
Today on a vote of 54 to 46 largely along party lines.
Part of that deal earlier this week to drop filibusters on some of the president's.
Top nominees and so he's now the labor secretary.
It took awhile Peter -- thank you so much -- -- an area information today from Capitol Hill appreciate it Afghan black on on him.
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