Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Bernanke's Speech Mentions Fiscal Policies That Encourage Saving

Thursday, February 3, 2011 - 2:14 PM
Fed Chairman, Ben Bernanke, gave a speech today at the National Press Club in Washington DC. There was nothing new in the speech that suggests a change in monetary policy. Even though he continues to see economic improvements, high unemployment and low inflation (excluding in commodities) will likely keep the ultra low interest rates for the foreseeable future.

In addition to monetary policy, Bernanke also commented on fiscal policy. He ended that part of the speech with the following:
I hope that, in addressing our long-term fiscal challenges, the Congress and the Administration will seek reforms to the government's tax policies and spending priorities that serve not only to reduce the deficit, but also to enhance the long-term growth potential of our economy--for example, by reducing disincentives to work and to save, [...]

I found it interesting that he mentioned wanting to see fiscal policies that reduce disincentives to save.
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077