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Castle, Financial Services Committee Question Bernanke on Monetary Policy and State of the Economy

Press Release

Location: Washington, DC

Delaware Congressman Mike Castle, today questioned Federal Reserve Chairman Ben Bernanke before the House Committee on Financial Services. Chairman Bernanke was on Capitol Hill to present the Federal Reserve's semiannual Monetary Policy Report to Congress and discuss and update Congress on the state of the U.S. economy. Rep. Castle, a senior Member of the Financial Services Committee, questioned the Federal Reserve Chairman about the future of Fannie Mae and Freddie Mac, how the stimulus bill has impacted economic growth and job creation, and our national debt.

"Although there are some indicators that the U.S. economy is beginning to slowly recover, I remain deeply concerned that little is being done to address several key economic factors including the housing market, particularly the future of Fannie Mae and Freddie Mac; the dangerous level of national debt; and most importantly job creation and continued long-term job growth," said Rep. Castle.

Chairman Ben Bernanke is currently serving his second term as the Federal Reserve Chairman. In today's testimony, Chairman Bernanke highlighted recent economic developments, the Federal Reserve's policies, and the recent financial reform bill.

Rep. Castle is a senior Member of the House Financial Services Committee and has consistently supported policies to improve our economic climate by supporting measures to restore investor confidence, encourage responsible homeownership, reduce foreclosures, improve job training programs, create long-term job growth, and extend unemployment benefits.

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