Fed's Bernanke on the implementation of Basel II

In a speech on 'The implementation of Basel II: Some issues for cross-border banking' given on 4 October, Ben Bernanke of the Federal Reserve said obviously oil prices are a drag at the current time, but we think the economy can accommodate them at their current levels as long as they don't rise substantially more.

"There's a difference between rising and high. If oil prices remain at current levels, they will not be an ongoing drag. The economy will get adjusted to them," he added.

"It was a

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