News and Events: The Dollar slid against the Euro and Yen on Thursday after Federal Reserve Chairman Ben Bernanke said the US economic outlook had worsened and that the central bank would act as needed to support growth. In remarks to the Senate Banking Committee, Bernanke said falling home values, a softer job market and high energy prices are expected to hurt consumer spending in the short run. Bernanke’s comments reinforced the impression that the Fed will cut interest rates again, with
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Friday, February 15th, 2008 at 1:01 pm
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