Bernanke Comments

Here is a brief summary of some of Bernanke's prepared comments for his testimony today:

• Bernanke: says mortgage deliquencies to rise in coming quarters
• Bernanke says FOMC in October meeting didn't see robust growth of Q3 sustained in near term
• Bernanke: Repeats Fed to 'act as needed' on growth, inflation
• Bernanke: subprime delinquencies likely to rise, more foreclosures may weaken housing, broader economy
• Bernanke: Fed 'on schedule' for new mortgage rules in 2007
• Bernanke says inflation pressure from oil may further restrain economy
• Bernanke says Fed sees 'sluggish' growth in first part of '08
• Bernanke says U.S. economy remains resilient but financial market volatility, strains have persisted
• Bernanke: Dollar, Oil, Commodities to spur short run inflation
• Bernanke says FOMC expects growth to 'slow noticeably' in Q4