Tuesday, January 13, 2009

Bernanke suggests banks will need more help to fix economy

"Federal Reserve Chairman Ben Bernanke said Tuesday that President-elect Barack Obama's proposed fiscal stimulus package could help the economy, but he added that additional bailouts of financial institutions may also be needed to bring about a sustained economic recovery.

Bernanke, speaking in London, said in his prepared remarks that the nearly $800 billion plan being discussed by the incoming Obama administration and the newly elected Congress 'could provide a significant boost to economic activity.' He did not comment on or endorse any specifics of the nearly $800 billion."

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Bernanke suggests banks will need more help to fix economy

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