What will bernanke say on wednesday

How confident are you that Congress figures this out and does something? I mean, in , what we were asking for was very unpopular, because everybody was mad at the banks, and nobody wanted to help them, even though we felt that preventing the banking system from collapsing was pretty critical for the whole economy.

So, there there have been some hitches. But I am hopeful, you know, that there will soon be a plan in place that will have many dimensions, including improvement of public health.

We really have to make sure that the hospitals have enough beds and enough equipment. Ryssdal: You know, one of the things that you and Secretary [Timothy] Geithner and Secretary Paulson and I talked about a year and a half or so ago, maybe two years, I guess, now, when we did that long interview on the financial crisis was your biggest regret.

A lot of people are staying home, a lot of people are losing their jobs. In this case, it might be a little easier to explain that strong action is necessary. But for the most part, I think people understand that this is a very serious situation. And one we can solve, but we need early action and strong action. And the Fed has been very aggressive, which is good. Bernanke: He does, once in awhile. He has done me the honor, or the whatever, of resurrecting a lot of the programs that we put together for the financial crisis of They just announced a whole new set of programs this morning.

Many of the things that they put in place are emergency lending programs that were essentially designed during the financial crisis. We need to keep businesses alive, including small businesses.

The Fed is all about trying to make the credit markets work well. Fitch downgraded the ratings of several Greek banks Tuesday, sending spreads wider on Greek sovereign debt. Greece has been expected to announce a year issue this week, but there was no announcement as of Tuesday.

In addition to the Bernanke testimony, investors will watch another big Treasury auction Wednesday at 1 p. Wednesday's data is light, with just the January new home sales, reported at 10 a. President Obama meets with the Business Council.

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Bernanke said Fed Chairman Jerome Powell and his team have been "extremely proactive" and "working really hard and got ahead of this.

The Senate is expected to vote and pass it later Wednesday. However, Bernanke warned that "if we don't get the public health right" there's no Fed monetary policy or White House and Capitol Hill fiscal package that's going to work.