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14-11-2008, 05:02 PM
Fed Chairman says policymakers are 'ready to take additional steps' as markets remain volatile and the economy weakens.
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke is pledging to work closely with other central banks to fix global financial problems and is leaving open the door to a fresh interest rate cut to help brace the sinking U.S. economy.
In remarks prepared for a central banking conference in Frankfurt, Germany, Bernanke says "continuing volatility of markets and recent indicators of economic performance confirm that challenges remain."
He adds that policymakers remain in close contact, are monitoring 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%..
http://money.cnn.com/2008/11/14/news/economy/bernanke_rate_cut.ap/index.htm
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke is pledging to work closely with other central banks to fix global financial problems and is leaving open the door to a fresh interest rate cut to help brace the sinking U.S. economy.
In remarks prepared for a central banking conference in Frankfurt, Germany, Bernanke says "continuing volatility of markets and recent indicators of economic performance confirm that challenges remain."
He adds that policymakers remain in close contact, are monitoring 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%..
http://money.cnn.com/2008/11/14/news/economy/bernanke_rate_cut.ap/index.htm