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To: RealMuLan who wrote (73616)	1/17/2008 11:38:17 AM
From: RealMuLan	Read Replies (2) \| Respond to of 116555

Bernanke Aims to Avoid Greenspan's Stimulus `Regret' (Update1) bloomberg.com By Scott Lanman Jan. 17 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke may encourage lawmakers today to stimulate the economy while aiming to avoid his predecessor's ``regret'' of being tied to specific measures. Legislators will question the Fed chief on steps to avoid the first recession since 2001 when he testifies to the House Budget Committee in Washington. Bernanke told members of Congress this week that some kind of fiscal stimulus is needed, according to Democratic lawmakers. Former Chairman Alan Greenspan ``misjudged'' the environment in which he endorsed tax cuts in 2001, and had ``intense'' regret the eventual legislation excluded his specific guidance, he wrote in his 2007 book. Bernanke will try to avoid backing any particular tax or spending policies because doing so could earn criticism from legislators who oppose them, putting the Fed's reputation for independence at risk, analysts said. ``Bernanke will be far more circumspect than Greenspan in terms of specifics,'' said Greg Valliere, chief political strategist at Stanford Group Co. in Washington. ``The last thing he needs is another controversy.'' Greenspan, through spokeswoman Lisa Panasiti, declined to comment. ...