Bernanke Cautious On Commercial Mortgages
SOURCE: Market Watch
Just two days after the Fed lowered the federal funds interest rates by 50 basis points, Bernanke also said the central bank stands ready to foster price stability and sustainable economic growth.
"Recent developments in financial markets have increased the uncertainty surrounding the economic outlook," Bernanke said. "The [Federal Open Market] Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth," he said.
Bernanke said the recent surprise half-percentage point interest rate cut was designed to forestall potential effects of tighter credit conditions on the broader economy.
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Just two days after the Fed lowered the federal funds interest rates by 50 basis points, Bernanke also said the central bank stands ready to foster price stability and sustainable economic growth.
"Recent developments in financial markets have increased the uncertainty surrounding the economic outlook," Bernanke said. "The [Federal Open Market] Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth," he said.
Bernanke said the recent surprise half-percentage point interest rate cut was designed to forestall potential effects of tighter credit conditions on the broader economy.
Read full report »
