Duke defends Fed’s liquidity measures
Elizabeth Duke, a governor on the board of the Federal Reserve, on Wednesday defended the Fed's response to the financial crisis, noting the liquidity provided to banks was aimed at supporting the broader economy.
Speaking at the University of North Carolina, Duke said: "Our efforts to provide liquidity were criticised by some as bail-outs for the banks. I can understand how it could seem that way, but I also know that every action the Fed took was directed at improving the economy rather than
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