« Analysts Say More Banks Will Fail | Main | IndyMac Under FBI Investigation »
July 18, 2008
Bernanke: Economy Faces 'Numerous Difficulties'
The country's economic problems present "significant challenges" for Federal Reserve policymakers as they try to get the economy back on track, Fed Chairman Ben Bernanke said. Lowering rates to prop up the economy would exacerbate inflation, and an increase to keep prices in check would stifle the struggling economy and housing sector. As a result, most economists expect the central bank policymakers to hold rates steady when they meet on Aug. 5.
Posted by S. Germain at July 18, 2008 08:14 AM