Reduction may be needed to head off economic 'headwinds' Federal Reserve Board Chairman Ben Bernanke, in a speech Thursday night, said that "renewed turbulence in financial markets" since the Fed's last policy meeting at the end of October "has partially reversed the improvement" in the outlook for the economy "that occurred in September and October."
In brief remarks on the economy and Fed policy to the Charlotte Chamber of Commerce, he declined to take a side in the debate apparently under way among Fed policymakers about whether or not to cut interest rates at their next committee meeting, on Dec. 11. He indicated he remains open to either possibility.
Stock markets in Asia that were open for trading during Bernanke's speech extended their gains after his comments.
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