Page 7 - Fed May News Today

republicans already sniping about a democratic choice for the congressional super committee. democrats have named senators patty murray, max baucus, and john kerry to the debt panel. and republicans are complaining that murray shouldnt get a seat because shes too political. shes in charge of fund raising for democratic senate candidates. and 12 lawmakers are supposed to be named to the committee by tuesday. theyre there to pinpoint $1.5 trillion in spending cuts by late november. 1...

It gave us a little bump in gdp in the first half of the year but weve blown the wad of that cash. most of the money has been spent. what do you do if you have already spent the money and the economy still isnt growing? >> jamie: maybe we found out -- out today when bernanke said the fed may take measures. the market rallied on that news. could we see that as ans -- as a positive sign it is confusing to people. >> it is. we view the federal reserve chairman as a wizard behind a curtain. that is ...

Gdp in the first half of the year but weve blown the wad of that cash. most of the money has been spent. what do you do if you have already spent the money and the economy still isnt growing? >> jamie: maybe we found out -- out today when bernanke said the fed may take measures. the market rallied on that news. could we see that as ans -- as a positive sign it is confusing to people. >> it is. we view the federal reserve chairman as a wizard behind a curtain. that is not true. the federal reserv...

Trouble is he actually facing. were here in the fox newsroom where breaking news is coming in from across the country and the world. watching events around the world and the media desk bringing in all the video and live pictures 24-7. jon: we begin today with fox news alert. federal chairman ben bernanke speaking moments ago saying if the economy deteriorates more the fed may intervene. it shows the u.s. economy growing much slower in the second quarter than first reported. shannon bream is live...