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Federal Reserve System

Philly Fed payments VP wins promotion

Arun Jain, a vice president at the Philadelphia Federal Reserve's retail payments department, will become a senior vice president after nearly 30 years of working within the Fed system.

Obama praises Bernanke

Barack Obama, the Democratic candidate for the US presidency, has commended Ben Bernanke, the chairman of the Federal Reserve, for his response to the recent economic upheaval.

Fed tightens lending standards

The Federal Reserve on Monday approved a series of measures which it hopes will protect consumers against the sort of misleading lending practices considered partly responsible for the subprime crisis.

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