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Bernanke: We Don't Have 'Tools' to Offset 'Cliff' Dive

Tuesday, 20 Nov 2012 | 1:10 PM ET

In this excerpt from an address to the Economic Club of New York, Federal Reserve Chairman Ben Bernanke says the central bank won't be able to single-handedly compensate for the economic harm that would be caused by the full force of falling off the "fiscal cliff."