Statement by Chairman Bernanke on action taken by Congress

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Statement by Chairman Bernanke on action taken by Congress

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The following press release was published by the Board of Governors of the Federal Reserve System on Oct. 3, 2008. It is reproduced in full below.

I applaud the action taken by the Congress. It demonstrates the government's commitment to do what it takes to support and strengthen our economy. The legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted flow of credit to households and businesses.

The Federal Reserve will continue to work closely with the Treasury as it undertakes these new initiatives. We will continue to use all of the powers at our disposal to mitigate credit market disruptions and to foster a strong, vibrant economy.

Source: Board of Governors of the Federal Reserve System

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