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Bachus Statement On The Federal Reserve's Exit Strategy
WASHINGTON,
February 10, 2010 -
- Financial Services Committee Ranking Member Spencer Bachus made the following statement regarding Chairman Ben Bernanke's statement on the Federal Reserve Board's strategy for unwinding its extraordinary government intervention in the financial markets:
Ranking Member Bachus said, "The term ‘intervention' implies that the government is interfering with economic and market forces. An intervention creates an artificial condition in which the system becomes increasingly dependent on government action. As with any addiction an altered state is created where the only choices are permanent addiction or a sometimes painful withdrawal."
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