On Tuesday, Federal Reserve Chairman Ben Bernanke renewed a pledge to prevent financial crisis of Europe from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week.
“We are in frequent contact with European authorities, and we will continue to monitor the situation closely and take every available step to protect the U.S. financial system and the economy,” Bernanke said in remarks prepared for delivery to the Senate Budget Committee.
Bernanke maintained a cautious tone on the U.S. outlook.
“We still have a long way to go before the labor market can be said to be operating normally,” he said.
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