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WASHINGTON—Federal Reserve Chairman Ben Bernanke made the case for public research funding, saying government spending on research and development can help boost economic growth.
"The primary economic rationale for a government role in R&D is that, absent such intervention, the private market would not adequately supply certain types of research," the Fed chief said at a Georgetown University conference Monday. But he added that, given current budget constraints, the U.S. needs to weigh its decisions cautiously.
The White House and Democrats remain locked in a budget fight with Republicans. The U.S. government hit its $14.294 trillion debt ceiling Monday, setting ...
source: http://online.wsj.com
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