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Bold Federal Aid Needed Now, Says Former Fed Chair Bernanke

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By AFSCME Staff ·
Bold Federal Aid Needed Now, Says Former Fed Chair Bernanke
Mark Wilson/Getty Images

The situation couldn’t be more dire, according to Ben Bernanke, former chairman of the Federal Reserve. States, cities and towns need bold aid from the federal government—and they need it now. Having had a front seat to the Great Recession, Bernanke, in an opinion piece in The New York Times this week, paints an even more chilling economic picture of the crisis facing our nation as a result of the coronavirus pandemic.

Bernanke highlights the ways in which the current recession caused by the pandemic is different than the Great Recession, why austerity won’t solve the problem and why cuts to public services will only worsen the unfolding calamity.

Ben Bernanke: I Was Chairman of the Federal Reserve. Save the States.”

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