By: Forbes Real Time
February 26, 2013 at 15:40 PM EST
Bernanke Warns Fiscal Policy's Drag Trumps His Expansive Monetary Policy
The most illuminating moment in Fed Chairman Ben Bernanke's testimony today was his very precise blunt warning that the costs of Obama's fiscal policy-- the coming $85 billion sequester and the already installed 2% tax on wages for those earning less than $114,000-- would just about wipe out the gains in economic growth perpetrated by the Fed's mighty easy monetary policy.
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