The Herald: "NEW York. Federal Reserve chairman Ben Bernanke has warned that the outlook for the US economy is deteriorating.
He said the housing and credit market turmoil had hit the economy and added that a weak labour market could further undermine consumer spending.
Given the risks facing the economy, Mr Bernanke signalled that additional US interest rate cuts were likely."
He said the housing and credit market turmoil had hit the economy and added that a weak labour market could further undermine consumer spending.
Given the risks facing the economy, Mr Bernanke signalled that additional US interest rate cuts were likely."