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    US bank chief spells out warning on fiscal cliff

    euronews (in English)

    by euronews (in English)

    Striking a quick deal to avoid the so called fiscal cliff could result in a, "very good year" for the U.S. economy.

    That's the view of Ben Bernanke the powerful Federal Reserve Chairman. The bank chief said a credible long-term framework to put the federal budget on a sound path was needed but warned against drastic action which would harm the economy.