Bernanke: More Action Needed To Cut Foreclosures

By: Associated Press
By: Associated Press

Federal Reserve Chairman Ben Bernanke is calling on the government to ramp up efforts to stem home foreclosures that are feeding into the country's deep economic troubles.

Bernanke says although a flurry of actions have been taken to ease the housing crisis, foreclosures still remain "too high" with adverse consequences for struggling homeowners, squeezed lenders and the broader economy.

Bernanke says: "More needs to be done."

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