13-Apr (The Wall Street Journal) — The cause of the financial crisis stemmed from fundamental breakdowns in both markets and regulation, Federal Reserve Chairman Ben Bernanke said Friday, highlighting the importance of pressing forward with an important overhaul of banking regulations.
“The vulnerabilities that underlay the recent crisis must be fully addressed,” the central bank leader said. “As you know, this process is well under way at both the national and international levels.”
Mr. Bernanke’s speech revisited points he has made in a number of previous addresses, including his recent series of academic lectures at George Washington University.
PG View: More focus on regulation and financial stability, continued absence of fresh policy dovishness, is weighing on gold intraday.