US Federal Reserve Bernanke said the U.S. is Facing ``Grave Threats'' to Financial Stability

Federal Reserve Chairman Ben S. Bernanke said the U.S. is facing ``grave threats'' to financial stability and warned that the credit crisis has started to damage household and business spending. ``Economic activity appears to have decelerated broadly,''

Treasury Secretary Henry Paulson, reversing his position, said he would accept limits on executive compensation in his proposed $700 billion rescue plan for the banking industry after an outcry from lawmakers.



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