Fed Chief Signals Further Rate Cut

Ben S. Bernanke, the chairman of the Federal Reserve, sent a strong signal on Thursday that the central bank will lower interest rates again this month as it tries to stave off a recession.

Mr. Bernanke said the downturn in the credit and housing markets posed substantial risks to economic health. He predicted that consumer spending and overall growth would slow in 2008.

“We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks,” Mr. Bernanke said in a speech in Washington on Thursday.

Read Full Article from New York Times

- Posted: 2008-01-11 11:01:10

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