Fed Chief Stays Cautious On Further Rate Cuts

November 08 2007 CNBC.com Federal Reserve Chairman Ben Bernanke said the U.S. economy faces risks on both the growth and inflation fronts, suggesting the Fed will holding off deciding on further rate cuts. Policy-makers expect economic growth to slow noticeably in the fourth quarter of the year, the Fed chairman warned, saying a housing downturn was likely to intensify and that consumer and business spending could slow. However, he said the Fed expects growth to strengthen next year as the impact of tighter credit and the housing slump wane.

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