Federal Reserve Board Chairman Ben Bernanke is scheduled to appear Wednesday before the House Financial Services Committee to detail how the central bank is unwinding its liquidity facilities.

In response to the financial crisis, the Fed launched nearly a dozen programs to pump cash into financial markets. The programs, which targeted investment banks, money market mutual funds, commercial banks and corporate debt, have been lauded for curbing the credit crunch but awoke Congress to the power that resides at the Fed.

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