Kroszner on the role of the Fed

Randall Kroszner, a member of the Federal Reserve's Board of Governors, listed the central bank's responsibilities with regard to monetary policy, supervision and consumer protection in a speech on Thursday.

Speaking in North Carolina, Kroszner reiterated Donald Kohn's comments made last week, saying that the 50-basis-point cut was "appropriate to offset the effects of tighter financial conditions on the economic outlook."

Kroszner underlined the Fed's commitment "to using its broad range of

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