Federal Reserve Chairman, Ben Bernanke, delivered his second day of testimony to the U.S. Senate, fielding senators’ questions about energy, housing, jobs and economic recovery.
He says the recent surge of energy costs is one possible roadblock to recovery, as a few of the contributing factors are rooted in geopolitical events rather than a natural increase in demand.
The budget deficit was on the senators’ minds, as well. Bernanke responded to queries by saying he “would aim for the next 10 to 15 years for eliminating the so-called primary deficit.”
Bernanke will further elaborate on monetary policy when the Fed meets on March 13.