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Friday, September 14, 2007

Bernanke to Testify Next Week On Mortgage Crunch

September 13 2007
Federal Reserve Chairman Ben Bernanke is scheduled to testify before the House Financial Services Committee on Sept. 20, a spokesman for the panel said. The spokesman said the hearing, which has yet to be officially announced, will cover mortgage-related topics. A time for the hearing has yet to be announced. The spokesman, Steve Adamske, said the hearing would examine steps President Bush proposed in late August intended to help homeowners avoid defaulting on mortgages. The hearing follows by two days a Fed policy-setting meeting at which the central bank is widely expected to lower benchmark U.S. interest rates by at least a quarter-percentage point.


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