Quote of the Day: Fed Still Waiting and Seeing

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From Ben Bernanke, in testimony before Congress today:

As always, the Federal Reserve remains prepared to take action as needed to protect the U.S. financial system and economy in the event that financial stresses escalate.

Good to hear. Very prudent. We certainly wouldn’t want to risk taking too much action to help out people who aren’t bankers. Better to let them suffer a while longer and see what happens.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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