Bernanke to Testify on Idea of Second Stimulus Bill

By: • Thu, Oct 16 2008, 11:29 AM

Federal Reserve Chairman Ben Bernanke has been summoned to appear before the House of Representatives' Budget Committee on Oct. 20 to testify on a potential second economic stimulus package.

Democratic leaders at Capitol Hill are reportedly pondering the introduction of a second economic stimulus bill. The Wall Street Journal, citing congressional aides, reported that House Speaker Nancy Pelosi is considering recommendations from economists to introduce a second stimulus package that could cost taxpayers $300 billion.

Bernanke is scheduled to testify at 10 a.m. EDT about the impact of economic stimulus plans in weakened economies.

By Stephen Huebl and edited by Nancy Girgis
©CEP News Ltd. 2008