Bernanke to defend Fed's action to lawmakers

06/23/2009 | Bloomberg

Ben Bernanke, chairman of the Federal Reserve, is set to defend his actions during the global financial crisis as his term is set to expire Jan. 31. "The vultures are circling," said DMJ Advisors President David Jones, a former economist at the Fed. Jones said the Fed chairman will be "on the defensive" despite "turning confidence around." Although Bernanke's job is ultimately on the line, a decision from President Barack Obama could be months away.

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