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February 29, 2008
Bernanke Signals Rate Cuts on Concern About Economy
Federal Reserve Chairman Ben Bernanke--citing concerns about the economic downturn, further softening in the labor market, worsening credit availability and even more declines in the housing market--insisted that the central bank is willing to reduce interest rates to prevent a major economic slump. In response to Bernanke's testimony, the future markets are looking for a 0.5-percentage point cut in the federal-funds rate at the central bank's meeting on March 18.
Posted by S. Germain at February 29, 2008 08:21 AM