What did the Fed chairman tell a congressional panel in late September 2008?
A) "In the long run we are all dead."
B) "If we don't do this [the Troubled Asset Relief Program], we may not have an economy on Monday."
C) "A recession is when your neighbor loses his job; a depression is when you lose yours."
D) "Inflation is always and everywhere a monetary phenomenon."
E) "We do not believe that more fiscal stimulus will improve economic performance."

Question

Quizplus · Accepted Answer

This statement was made during the height of the financial crisis in 2008, when the Fed chairman emphasized the urgency of passing the Troubled Asset Relief Program (TARP) to prevent a complete collapse of the economy.

What Did the Fed Chairman Tell a Congressional Panel in Late