Fed's Bernanke says backs financial reforms

WASHINGTON Thu Feb 17, 2011 3:55am EST

Chairman of the Federal Reserve Ben Bernanke testifies on the state of the U.S. economy before the House Budget Committee on Capitol Hill in Washington February 9, 2011. REUTERS/Kevin Lamarque

Chairman of the Federal Reserve Ben Bernanke testifies on the state of the U.S. economy before the House Budget Committee on Capitol Hill in Washington February 9, 2011.

Credit: Reuters/Kevin Lamarque

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WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said the Fed supports the sweeping Dodd-Frank financial regulatory overhaul and is moving swiftly to put its provisions into action.

"Dodd-Frank is a major step forward for financial regulation in the United States," Bernanke said in congressional testimony obtained by Reuters on Wednesday.

Bernanke is due to speak about regulation before the Senate Banking committee on Thursday. His prepared text made no mention of the outlook for the economy or monetary policy.

(Reporting by Mark Felsenthal)

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Comments (1)
vippy wrote:
Well, he should be in jail along with all his cohorts in Washington and banker buddies. Read the article in Rolling Stone, Taibbi needs a medal, he is a hero, the only one not afraid of the truth.

Feb 17, 2011 8:34am EST  --  Report as abuse
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