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Bernanke Signals Further Rate Cuts

The Fed chairman's testimony to Congress indicated that concerns about a slowing economy still outweigh inflation worries
U.S. Federal Reserve Chairman Ben Bernanke delivers his semiannual report on the economy to the House Financial Services Committee in Washington.
U.S. Federal Reserve Chairman Ben Bernanke delivers his semiannual report on the economy to the House Financial Services Committee in Washington. NICHOLAS KAMM/AFP/Getty

By Action Economics, S&P MarketScope, and BW staff

With the Federal Reserve trying to navigate a challenging course between slowing growth and rising inflation, the central bank's chairman tried to address the twin dilemmas in his semiannual monetary policy testimony before Congress on Feb. 27. The verdict from Fed watchers: Fed Chief Ben Bernanke steered his testimony toward the "dovish" side, placing greater emphasis on the central bank's need to shore up economic growth via monetary policy.