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Will you take a hit from the sequester?

Federal Reserve Bank Chairman Ben Bernanke testifies before the Senate Banking Committee on February 26, 2013 in Washington, DC.

Federal Reserve Chairman Ben Bernanke is back on Capitol Hill today to field another round of questions from lawmakers. Yesterday, he warned members of the Senate Banking Committee that the sequester's spending cuts, which kick in on Friday, will harm the already fragile economic recovery.

Juli Niemann, analyst with Smith Moore and Company, joins Marketplace Morning Report host Jeremy Hobson to break down how the cuts could trickle out into the consumer economy.

About the author

Juli Niemann is executive vice-president for research and portfolio management with Smith, Moore and Company.
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Why do we allow Ben Bernanke to advise our lawmakers? Bernanke is nothing but the friendly neighborhood loan shark.
If we want to continue to accept his sucker deals regarding our money supply, that's one thing. But for him to also then "warn" us against spending less of the same money he loaned to us at interest (if we know what's good for us!) is contemptible.
I remember him in the old movie when he delivered his classic line, "Say, this is a nice little economy you've got going here. It would be a real shame if-- God forbid-- something bad should happen to it."

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