Bernanke talks U.S, Europe with Senate Democrats

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Bernanke talks U.S, Europe with Senate Democrats
WASHINGTON (MarketWatch) - Federal Reserve Chairman Ben Bernanke attended the weekly luncheon of Senate Democrats on Thursday and lawmakers said he backed more fiscal stimulus to help the struggling economy, according to reports. Sen. Dick Durbin, a Democrat from Illinois, said that Bernanke told the lawmakers the Fed had "done all it can do on the monetary side, [and] now it's up to us," according to a story in the Hill newspaper. Senate Democrats are pushing for piece-by-piece passage of President Barack Obama's $450 billion jobs package. The Fed chairman spent most of the luncheon explaining the possible impact on the U.S. financial system and economy from the euro zone's financial crisis, according to lawmakers and their aides. Bernanke also promised to give the senators some recommendations for legislation to reverse the wave of home foreclosures across the country.