The U.S. economy is “far from being fully recovered” from the financial crisis, said in a speech on Monday, the president of the Federal Reserve (Fed) Chairman Ben Bernanke.
“It was three years since the darkest days of the financial crisis, but our economy is still” far from being fully recovered from its effects, “Bernanke said in a speech whose text was transmitted to the press.
“The human and economic costs of the crisis highlights the importance of taking all necessary measures to prevent recurrence of the events of recent years,” he told a Fed conference in Atlanta (Georgia, southeast).
In his speech on the U.S. central bank’s role in supervising the financial system, Bernanke did not mention monetary policy. He said, however, that after the crisis, “the policy of financial stability became more important and is now generally considered equal to monetary policy.”
U.S. financial regulators approved on April 3 criteria to determine which non-bank financial institutions should be subject to supervision by the Fed, because of its importance. Bernanke said the central bank is well trimmed to assume that role.
Category: Business News