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Bernanke Ducks The 'R' Word

Despite the near-collapse of the nation’s financial system, Federal Reserve Chairman Ben Bernanke still won’t say if the country is in a recession Monday during an appearance before the House Budget Committee.

Pressed by Democratic Rep. Rosa DeLauro to give a “yes or no” answer on the recession question, Bernanke said he “didn’t think it was a fair question,” noting that recession is a technical term.

Bernanke admitted that the country is facing “a serious slowdown in the economy with serious consequences for the public,” but again refused to say that the country was in a recession.

DeLauro also pressed Bernanke to endorse certain parts of the Democrats’ stimulus package, but her time expired as she was pressing him to endorse an additional extension of unemployment benefits.

Bernanke also refused to sign off on a price for the overall package, despite repeated questions from the Connecticut Democrat. 

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