New York Times (06/04/08) P. C4
The Federal Reserve is unlikely to continue to cut interest rates due to concerns about inflation, Chairman Ben Bernanke suggested during remarks delivered via satellite to an international monetary conference in Barcelona, Spain. "For now policy seems well positioned to promote moderate growth and price stability over time," said Bernanke in his June 3 comments. The Fed started reducing the key rate in September and lowered it to a nearly four-year low of 2 percent in April, but many economists now believe the central bank will keep rates steady at its next meeting in late June and probably through much of 2008. Bernanke added that the downturn in the housing market and falling home prices continue to pose a threat to economic growth.
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