Posted AT 10:36 AM EST on 27/02/08
Bernanke sees sluggish U.S. growth
WASHINGTON — U.S. Federal Reserve chairman Ben Bernanke, warning Congress of a period of sluggish business growth, sent a fresh signal Wednesday that the central bank will again lower interest rates to steady the teetering economy.
“The economic situation has become distinctly less favourable” since the summer, the Fed chief told the House of Representatives' financial services committee.
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