Busted: Bankers and The Global Economy

August 31, 2007

Fed Anticipating U.S. Turmoil

Filed under: banking, federal reserve, government, money — Tags: , , , , , , — digitaleconomy @ 10:25 am

China Economic Net Article

U.S. Federal Reserve Chairman Ben Bernanke vowed Friday that the central bank is prepared to take more actions to keep the credit crisis from hurting the economy.

“The Federal Reserve stands ready to take additional actions as needed to provide liquidity and promote the orderly functioning of markets,” Bernanke said at a Fed symposium in Jackson Hole, Wyoming.

“It is not the responsibility of the Federal Reserve — nor would it be appropriate — to protect lenders and investors from the consequences of their financial decisions,” Bernanke said.

Federal Reserve Speech by Ben Bernanke

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