Bernanke: Save during boom eras

Governments must stop overspending during upturns in the business cycle, Federal Reserve chairman Ben Bernanke said yesterday. “Building an adequate reserve fund during good times may not be politically popular, but doing so can pay off during bad times,” he said. Meanwhile, his Fed colleague Narayana Kocherlakota endorsed Bernanke’s accommodative monetary policy, arguing it was “appropriate” for the US economy.