Fed Chief Signals He’s Open to More Rate Cuts

WASHINGTON — Ben S. Bernanke, the chairman of the Federal Reserve, signaled his readiness on Wednesday to further reduce interest rates even though inflation has picked up speed. 

“We are in the most significant economic troubles since at least 1998,” Mr. Frank said. “And the single biggest cause was a failure for regulation to keep up with innovation. And it’s, of course, had international consequences as well.”

For full article go to: http://www.nytimes.com/2008/02/27/business/27cnd-fed.html?ex=1361854800&en=f513f5abdf537cf9&ei=5124&partner=permalink&exprod=permalink

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