FED CHAIRMAN BACKS SECOND STIMULUS PLAN
Global Finance; Nov 2008; 22, 10; Docstoc
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Federal Reserve chairman Ben Bernanke urged Congress last month to pass a second economic stimulus plan, saying that the US economy was likely to remain weak for several quarters, with some risk of a protracted slowdown. With the federal funds rate target already lowered to 1.5% on October 8, the central bank is running low on ammunition on the interest rate front. Bernanke, in effect, is calling for some help with the heavy lifting of boosting the economy.