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Some quotes from a congressional hearing Wednesday on the nation's economic outlook featuring testimony from Federal Reserve Chairman Ben Bernanke.
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"In response to deterioration in the near-term outlook for the economy and intensified strains in financial markets, in recent months the Federal Reserve has eased monetary policy substantially further and taken strong actions to increase market liquidity. ... Although our recent actions appear to have helped stabilize the situation somewhat, financial markets remain under considerable stress." — Bernanke.
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