Washington- Federal Reserve chief Ben Bernanke Wednesday defended the US government's unprecedented interventions in capital markets over the past months, telling Congress that the stability of the US financial system faced "grave threats."
He painted a gloomy picture for future growth, saying "greater- than-normal uncertainty" surrounded any forecast of the pace of activity.
"The downside risks to the outlook ... remain a significant concern," Bernanke told the Joint Economic Committee of the US Congress.
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