Fed Considers More Steps to Bolster Economy

Federal Reserve chairman Ben Bernanke urged the House Budget Committee to support another government stimulus package, particularly one that would encourage consumers to buy houses and cars.

"If the Congress proceeds with a fiscal package, it should consider including measures to help improve access to credit by consumers, homebuyers, businesses and other borrowers," Bernanke said.

Many economists believe members of the Fed will again lower its key rate – now at 1.5 percent – when it meets Oct. 28-29.
Source: The Associated Press, Jeannine Aversa (10/20/08)

 

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