Bernanke: Financial markets under heavy stress (Reuters)

as a weakening housing market, tighter credit and rising oil prices threaten the economy, Fed Chairman Ben Bernanke said on Tuesday.

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"Accurately assessing and appropriately balancing the risks to the outlook for growth and inflation is a significant challenge for monetary policy-makers," Bernanke said in remarks to the Senate Banking Committee. Bernanke was delivering his semi-annual testimony on economic conditions to lawmakers. "The possibility of higher energy prices, tighter credit conditions, and a still-deeper contraction in housing markets all represent significant downside risks to the outlook for growth. At the same time, upside risks to the inflation outlook have intensified lately," he said.

Full Story: Bernanke: Financial markets under heavy stress (Reuters)

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