Bernanke: Fed will 'act as needed' to help

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke says the worsening financial crisis could prove a major weight on U.S. business growth and pledges to "act as needed" to brace the wobbly economy.

Bernanke and his Fed associates are fighting the biggest financial debacle since the Great Depression. On Wednesday, the Fed chief faces a second straight day of tough questioning on Capitol Hill about the Bush administration's proposed $700 billion bailout plan.

Lawmakers have voiced skepticism about the plan, which is aimed at shoring up troubled financial institutions and markets.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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