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Bernanke told the House Financial Services Committee a weak job market and tame inflation warrant low interest rates for “an extended period”, dampening speculation a policy tightening might be nearing |
It’s the strongest signal yet from the Federal Reserve that it is beginning to withdraw the life support system that has helped keep the banks’ blood circulating over the past two years. On February 18, the Fed raised the rate it charges to banks for direct loans by 25 basis points to 0.75%,
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