Fed Chief Signals Another Rate Cut To Help Wobbly Economy
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke has warned Congress that the country 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.
