Fed set stage for economic recovery, Bernanke testifies

Federal Reserve Chairman Ben Bernanke testified before Congress with a cautious declaration that economic growth is returning thanks in part to policies implemented by the central bank. "Aggressive policy actions taken around the world last fall may well have averted the collapse of the global financial system," Bernanke said. Later he said that "many of the improvements in financial conditions can be traced, in part, to policy actions taken by the Federal Reserve to encourage the flow of credit."

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