Thu, Jul 18, 2013 3:27 PM EDT 1:19
Federal Reserve Chairman Ben Bernanke weighed into the contentious debate over the future of the housing finance system, saying some sort of backstop for mortgages was needed to protect the financial system in times of stress Ben Bernanke returns to Capitol Hill for day two of Congressional testimony. While the debate continues over the timing of any Fed tapering, there seems to be unanimity of opinion on Wall Street, among lawmakers and the American people, that Bernanke's easy money policies have generally failed and will lead America to ruin. But Jack Rivkin, former CIO of Neuberger Berman, says the conventional wisdom is wrong and the Monday Morning Fed quarterbacks are all wet. U.S. Federal Reserve Chairman Ben Bernanke says it's ?way too early to make any judgment? about a potential decision to start reducing the central bank?s volume of asset purchases. Bernanke, appearing before the Senate a day after testifying before the House, largely repeated the themes and often the words from his previous testimony.