Pittenger Reacts to First Hearing with Bernanke

Statement

Today, Congressman Robert Pittenger (NC-09) participated in his first hearing with Federal Reserve Chairman Ben Bernanke. As a member of the House Financial Services Committee, Congressman Pittenger provides oversight to the Federal Reserve.

During today's hearing, Congressman Pittenger was encouraged to hear Chairman Bernanke agree that the federal government must reduce future spending obligations found in entitlement programs. This was a major focus of the recent bi-partisan letter co-authored by Congressman Pittenger and signed by dozens of House freshman.

Congressman Pittenger was also focused on Chairman Bernanke's thoughts on bringing to a close the "extraordinary measures" still in place following the economic collapse of 2008.

"At some point, the economy must start to grow on its own and stop being spoon-fed by the Federal Reserve," said Congressman Pittenger. "Like a patient in rehab, the economy must eventually take steps of its own."

"The continued expansion of the Federal Reserve's monetary policy puts us at greater risk for inflation and limits the purchasing power of the North Carolina's families and seniors. Chairman Bernanke needs to explain how he will unwind these policies and let the American economy thrive without government stimulus."

As an experienced small businessman, Congressman Pittenger is focused on getting the Nation's fiscal house in order, including tax reform, eliminating unnecessary spending, and restoring balance to Federal Reserve policy.

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