Bernanke Defends QE3 Stimulus

Federal Reserve Chairman Ben Bernanke defended criticism of his third round of economic stimulus on Sunday, advising emerging markets to stop intervening in their own economies and allow their currencies to rise instead. The Fed announced last month that it will begin a new program of open-ended bond purchases that will go on until there is a substantial improvement in

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Lagarde New IMF Boss

The International Monetary Fund board has elected French Finance Minister Christine Lagarde as their new managing director, replacing the disgraced Dominique Strauss-Kahn. “Her win was assured after emerging powers China, Russia and Brazil declared their support for her and the United States followed with its endorsement,” reports Reuters.

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