Bernanke: Fed eased to “get out ahead” of crisis

September 21, 2007 at 11:46 pm | Posted in economy, finance | Leave a comment

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke said on Thursday the central bank slashed interest rates this week to brace the U.S. economy against damage from financial turmoil but warned the outlook remains uncertain. “We took the action to try to get out ahead of the situation and try to forestall potential effects of tighter credit conditions on the broader economy,” Bernanke said in response to questions at a congressional hearing.”

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