Enter your e-mail address below
to reset your password.
Please activate your registration
by clicking the link in the activation email
or click submit to resend the activation email.
Please check your spam folder too...
Check your mailbox to activate your registration.
Please check your spam folder too.
US President Barack Obama in an interview defended his administration's plan to give the Federal Reserve new powers to oversee systemic risks in the economy.
Obama, in an interview shown on the CBS Early Show, said the administration wants an overseer that “is accountable and clear when it comes to these large systemic firms that could potentially bring down the entire financial system. The Fed has the expertise and the credibility I think to do it.”
Asked whether lapses by the Fed contributed to last year's crisis, Obama said, “It wasn't the Fed where regulations broke down here.” (Reuters)