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Bernanke Says Central Banks Will Do More
By
Jen Chung
Published Nov 14, 2008
Modified Nov 14, 2008
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By
Jen Chung
Published Nov 14, 2008
Modified Nov 14, 2008
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Speaking at the European Central Bank Central Banking Conference, Federal Reserve Chairman Ben Bernanke said central banks are prepared to continue to work together and do more to help the global economy during the current credit crisis. In his speech, he noted, "The continuing volatility of markets and recent indicators of economic performance confirm that challenges remain. For this reason, policymakers will remain in close contact, monitor developments closely, and stand ready to take additional steps should conditions warrant." Back in the states, retail sales fell 2.8% in October--"the biggest since records began in 1992"--and stocks have dropped 1.6-2.65% this morning.
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ben bernanke
central banks
credit crisis
economy
retail sales
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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