Federal Reserve Chairman Ben S. Bernanke said the U.S. economy is likely to “slow noticeably” this quarter while high commodity prices and a weaker dollar may stoke inflation “for a time.”
Bernanke said the Federal Open Market Committee, which sets the benchmark U.S. interest rate, saw risks to both growth and prices at its Oct. 31 meeting, when officials reduced the rate by a quarter-point to 4.5 percent. He added the Fed “will be very dependent on the data” and “will respond as needed” to keep growth and inflation stable. [MORE]
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