Dodd to meet Bernanke, Paulson on Tuesday

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Dodd to meet Bernanke, Paulson on Tuesday
Financial and mortgage market volatility on meeting agenda
By Robert Schroeder, MarketWatch
Last Update: 2:19 PM ET Aug 20, 2007



WASHINGTON (MarketWatch) -- The chairman of the Senate Banking Committee will confer with the chiefs of the Federal Reserve and Treasury Department on Tuesday in an effort to hatch solutions to ongoing turmoil in the financial and mortgage markets.

The scheduled Tuesday morning meeting between Sen. Christopher Dodd, D-Conn., Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson comes just days after the central bank cut the rate at which it lends to banks.

On Monday, stocks lost their tentative hold on early gains as a rally in short-term Treasury bills highlighted concerns about the effectiveness of the Fed's move to boost liquidity by cutting its discount rate. See Market Snapshot.

Dodd will discuss market volatility with Bernanke and Paulson, "as well as possible additional steps that can be taken to help stabilize mortgage and financial markets and help homeowners nationwide," the senator's office said in a press release announcing the meeting.

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