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Published October 20, 2009, 07:35 AM

Bernanke urges U.S. to cut budget deficit

Federal Reserve Chairman Ben Bernanke called Monday for the United States to whittle down its record-high budget deficits and for countries like China to get their consumers to spend more.

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke called Monday for the United States to whittle down its record-high budget deficits and for countries like China to get their consumers to spend more.

Bernanke said those moves would help reduce “global imbalances” — uneven trade and investment flows among countries that contributed to the financial crisis.

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