Bernanke to Congress: Don't scale back Fed powers

[Cali_Democrat]

http://finance.yahoo.com/news/Fed-boss-makes-case-to-keep-apf-3580765049.html?x=0&sec=topStories&pos=2&asset=&ccode=

Fed boss makes case to keep all banking duties
Bernanke tells Congress: Don't scale back Fed banking supervision

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke urged Congress Wednesday to let the Fed keep all of its banking oversight, arguing that information gleaned from that process helps the central bank guide the economy.

Testifying at a House hearing, Bernanke waged a fresh battle against Senate efforts to scale back the Fed's role in overseeing the nation's banks.

The Fed boss argued that policymakers factor information they get from the Fed's role as bank regulator into their decisions on interest rates. And, Bernanke said its banking duties give the Fed insights into the health of the entire banking system.

"The insights provided by our role in supervising a range of banks, including community banks, significantly increases our effectiveness in making monetary policy and fostering financial stability," Bernanke told the House Financial Services Committee.

Read more at link...http://finance.yahoo.com/news/Fed-boss-makes-case-to-keep-apf-3580765049.html?x=0&sec=topStories&pos=2&asset=&ccode=

[Political Heretic]

1. Americans to Bernanke: Die in a fire.

[nykym]

2. So Ben

WTF happened?