FRB: Testimony--Bernanke, Developments in the Financial Markets--April 3, 2008

Bernanke and others testified today in front of Congress about the troubles in recent months in the credit markets. a few highlights from the transcript.FRB: Testimony--Bernanke, Developments in the Financial Markets--April 3, 2008: "Well-functioning financial markets are essential for the efficacy of monetary policy and, indeed, for economic growth and stability. Consistent with its role as the