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Fed Chief Bleak on Economic Outlook
Summary from multiple countries, from articles in English
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The U.S. economy is in for slow growth for the next several years, and there is much uncertainty even in that prediction, U.S. Federal Reserve chairman Ben Bernanke said Tuesday. (article 3)
WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress today the fragile economy is facing "numerous difficulties" despite the Fed's aggressive interest rate reductions and other fortifying steps. (article 2)
At the same time , Bernanke, testifying before the Senate Banking Committee, sounded another warning that rising prices for energy and food are elevating inflation risks. (article 2)
NEW YORK - Wall Street ended a whipsaw day mostly lower today, as fears of escalating instability in the financial sector kept investors on edge despite a steep retreat in oil. (article 7)
During the day's testimony, Treasury Secretary Henry Paulson also said the Bush administration has no immediate plans to lend money to the mortgage giants or buy their stock. (article 7)
The Fed said in late June that the risks that growth will sputter have diminished while concerns that inflation might spike higher have gained. (article 6)
Bush, speaking at a White House news conference this morning, said that the nation's financial system is " basically sound. (article 8)
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Other summaries about this story:
Other stories about Freddie, Fannie and Mac:
Event tracking:
Story keywords
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Freddie, Fannie, Mac, mortgage, Treasury |
Source articles
- FOXNEWS.COM HOME > BUSINESS (FOX News, 07/15/2008, 1089 words)
- Bernanke notes 'numerous difficulties' for economy - (baltimoresun.com, 07/15/2008, 168 words)
- Bernanke foresees slow U.S. growth (cbc.ca, 07/15/2008, 439 words)
- Fed Chief Bleak on Economic Outlook (nytimes.com, 07/16/2008, 1250 words)
- FOXNEWS.COM HOME > BUSINESS (FOX News, 07/15/2008, 980 words)
- Congress to hear Bernanke, Paulson on market strain (Washington Post, 07/15/2008, 294 words)
- Stocks end mostly lower even as oil prices retreat - (baltimoresun.com, 07/15/2008, 171 words)
- ABC News: Dow Drops, Closes Down 93 Points (ABCNews, 07/15/2008, 318 words)
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blaster@cs.columbia.edu
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