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The Boston Globe

Business

Bernanke takes Fed defense to House panel

WASHINGTON — Facing criticism from Republican lawmakers, Chairman Ben Bernanke stood behind the Federal Reserve’s low-interest-rate policies Wednesday and sought to reassure members of Congress that the central bank has a handle on the risks.

In his second day of testimony on Capitol Hill, Bernanke told members of the House Financial Services Committee that the Fed’s bond purchases are needed to boost a still-weak economy and that they have helped create jobs for average Americans.

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