Transcripts

The Federal Reserve Leaves Interest Rates Alone

SUSIE GHARIB: All eyes were on the Fed today. First, because it wrapped up its policy meeting, leaving interest rates unchanged. The central bank said the recession is slowing and inflation is in check. Second, there were allegations against Fed Chairman Ben Bernanke. California Republican Congressman Darrell Issa said Bernanke made quote inappropriate threats against Bank of America management to push through the merger with Merrill Lynch. In a statement to Reuters, Issa, a ranking Republican member of the House Oversight and Government Reform Committee said the Fed quote, also engaged in a cover up and deliberately hid concerns and pertinent details regarding the merger from other Federal regulatory agencies. So far no comment from the Fed. Tomorrow, Bernanke testifies before Issa's committee at a hearing on Capitol Hill.