BornAgain123
November 14th, 2008, 04:47 PM
http://biz.yahoo.com/ap/081114/bernanke.html
WASHINGTON (AP) -- Warning that financial markets remain under "severe strain," Federal Reserve Chairman Ben Bernanke pledged Friday to work closely with other central banks to fix global financial problems and left open the door to a fresh interest rate cut to help brace the sinking U.S. economy.
"The continuing volatility of markets and recent indicators of economic performance confirm that challenges remain," Bernanke told a central banking conference in Frankfurt, Germany. "For this reason, policymakers will remain in close contact, monitor developments closely and stand ready to take additional steps should conditions warrant."
The Fed chief's remarks appeared to reinforce the view of Wall Street investors and economists that the Fed probably will lower interest rates again on Dec. 16, its last regularly scheduled meeting this year. The Fed's key rate is now at 1 percent..........
WASHINGTON (AP) -- Warning that financial markets remain under "severe strain," Federal Reserve Chairman Ben Bernanke pledged Friday to work closely with other central banks to fix global financial problems and left open the door to a fresh interest rate cut to help brace the sinking U.S. economy.
"The continuing volatility of markets and recent indicators of economic performance confirm that challenges remain," Bernanke told a central banking conference in Frankfurt, Germany. "For this reason, policymakers will remain in close contact, monitor developments closely and stand ready to take additional steps should conditions warrant."
The Fed chief's remarks appeared to reinforce the view of Wall Street investors and economists that the Fed probably will lower interest rates again on Dec. 16, its last regularly scheduled meeting this year. The Fed's key rate is now at 1 percent..........