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Bernanke: Financial crisis taking toll on economy

Bernanke: Financial crisis taking toll on economy

Federal Reserve Chairman Ben Bernanke says the financial crisis that has pounded the U.S. _ coupled with higher inflation _ is taking a toll on the economy and poses a major challenge to Fed policymakers as they try to restore stability.
"Although we have seen some improved functioning in some markets, the financial storm that reached gale force" around this time last year "has not yet subsided, and its effects on the broader economy are becoming apparent in the form of softening economic activity and rising unemployment," Bernanke said in a speech Friday to a high-profile economics conference here.


Updated : 2021-01-19 07:47 GMT+08:00