Bloomberg has obtained a copy of Fed chairman Ben Bernanke’s prepared testimony to the House Financial Services committee tomorrow. According to the wire, the Mr Bernanke plans to reiterate his position that the Fed’s bank oversight role is important to its monetary policy functions.

Mr Bernanke’s quote Bloomberg:

The Federal Reserve’s participation in the oversight of banks of all sizes significantly improves its ability to carry out its central-banking functions.

Nothing really new here.

From Mr Bernanke’s February testimony: Read more