JEC Holds Hearing on "The Economic Outlook"
September 25, 2008
U.S. Senator Charles E. Schumer, Chairman of the Joint Economic Committee (JEC), held a hearing on the Economic Outlook for the United States with Chairman of the Board of Governors of the Federal Reserve System, Ben Bernanke, a. Chairman Bernanke provided his first Congressional testimony following the September Federal Open Market Committee (FOMC). The Joint Economic Committee, along with Chairman Bernanke, discussed the effects of the credit crunch and housing crisis, growing inflation, and current state of the economicdownturn.
- Chairman Schumer (PDF - 89.0 KBs)
- Interbank Lending Rates Spiked Before Federal Reserve Intervention
- Inflation Including Energy and Food Costs Has Spiked in 2008
- The Federal Surplus from 2000 Has Turned into a Massive Deficit
- Home Prices Have Plunged Across the Country
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