WASHINGTON — Federal Reserve Board Chairman Ben Bernanke told a congressional committee Thursday that the central bank, limited in its ability to ease Europe's problems, continues to prepare in case U.S. banks are hit by contagion effects from overseas.
"On the banking side we have worked really hard to try to make sure that the banks, that the financial system would be resilient to shocks coming from across the Atlantic," Bernanke told House and Senate members who sit on the Joint Economic Committee. "We are taking steps trying to make sure we are as well prepared as possible in the financial system."
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