Saturday, March 1, 2008

Fed officials vow to keep watch on inflation (Reuters)



US Federal Reseve Chairman Ben Bernanke testifies before the Senate Banking, Housing and Urban Affairs Committee during his semiannual monetary policy report February 28, 2008 in Washington, DC. US consumer spending showed a modest improvement in January according to a government survey Friday, but Americans' spending power was eroded as stores marked up the prices of goods.(AFP/GETTY IMAGES/File/Chip Somodevilla)Reuters - The Federal Reserve's rapid-fire
interest rate reductions were warranted, but the central bank
must reverse course quickly once calm is restored to financial
markets, Fed officials said on Friday.




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