Bernanke on the Federal Reserve’s exit strategy

Federal Reserve Chairman Ben S. Bernanke has given testimony before the Committee on Financial Services of the U.S. House of Representatives.

If you thought things were moving our way, look at the remarks at the end of note nine.

The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system.

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