Posted AT 12:26 PM EST on 08/11/07
U.S. economic growth to slow: Bernanke
WASHINGTON — Federal Reserve Chairman Ben Bernanke said Thursday that a host of economic problems, including the severe housing slump, will cause business growth to slow noticeably in coming months.
Mr. Bernanke told Congress' Joint Economic Committee that the central bank is watching developments closely, but gave no signal that it's prepared at the current time to cut interest rates even further.
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