On the recordDecember 2, 2009
I personally understand this issue because I grew up in an unbanked family.
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congress.govI personally understand this issue because I grew up in an unbanked family.
Bernanke shares personal experience related to banking issues.
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Congress sets the mandate for the Federal Reserve, and so Congress has the right to set the mandate of course any way it likes.
an increasing share of losses have arisen from prime mortgages that were originally fully documented with significant downpayments, but have defaulted due to the weak economy and housing markets.
I have--you know, it is easy to criticize, but the politics is very difficult.
I think it is consistent with our mandate and with our current policy to maintain price stability, and that is what we have been achieving.