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Fed chief signals another rate cut to help wobbly US economy

Fed chief signals another rate cut to help wobbly US economy

Federal Reserve Chairman Ben Bernanke has warned Congress that the U.S. is in for a period of sluggish economic growth given the housing bust and credit crunch.
He sent a fresh signal Wednesday that the Fed will lower rates yet again to brace the teetering economy.
The Fed chief also told a House committee that the economic situation has become "distinctly less favorable" since last summer.


Updated : 2021-08-03 06:43 GMT+08:00