Fed Ready to Cut Interest Rates Again
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bernanke, Federal Reserve, Interest Rate Cut February 28th, 2008Bernanke Says Fed’s Priority Is Shoring Up the Economy, Pledges to Cut Interest Rates
WASHINGTON (AP) — The Federal Reserve is ready to lower interest rates again to brace the wobbly economy even as zooming oil prices spread inflation, Chairman Ben Bernanke signaled to Congress on Wednesday.
He is fighting to keep the economy afloat after mighty blows from the housing and credit crises, while trying to contain inflation.
For now, the priority is shoring up the economy, Bernanke suggested in an appearance before the House Financial Services Committee. He pledged anew to slice a key interest rate and help the economy, which many fear is on the verge of a recession, if not already in one.
Tags: bernanke, Federal Reserve, Interest Rate Cut
