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Bernanke: Fed Won't Aid Eurozone Anymore

Agnus Dei Farrant |
December 14, 2011 | 8:00 p.m. PST

Executive Producer

Federal Reserve Chairman Ben Bernanke (photo courtesy of Creative Commons).
Federal Reserve Chairman Ben Bernanke (photo courtesy of Creative Commons).
U.S. Federal Reserve Chairman Ben Bernanke told Republican senators Wednesday that the Federal Reserve has no additional plans to help European banks, two lawmakers who attended the meeting at the Capitol told Bloomberg.

Bernanke said in closed-door comments that the central bank doesn't intend to rescue European financial institutions, Senator Bob Corker told Bloomberg.

"He made it very clear he has no plans" to use U.S. taxpayer funds to bailout eurozone nations, Corker told the Herald Sun."He has no intentions of furthering U.S. involvement in the crisis."

Senator Lindsey Graham said Bernanke told them "he doesn't have the intention or the authority" to bail out countries or banks.

"[Bernanke] did say if they can't get their thing in order it could affect us," Senator Orrin Hatch told Bloomberg. "He said a collapse over there could be detrimental to us."

According to the Herald Sun, Corker said the United States' main focus should be to "right our own ship."

He added, "The best thing we can do as a country is to deal with our own issues as quickly as possible."

 

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