Fed chief hints at sizable rate cut

Bush’s ‘Plunge Protectiion Team’ have given their marching orders. — PID

January 11, 2008 (NY TIMES) — Presenting a bleak picture of a deteriorating national economy, Ben Bernanke, chairman of the Federal Reserve, strongly suggested Thursday that the Fed would cut interest rates soon, perhaps by a large amount. “The outlook for real activity in 2008 has worsened,” Bernanke said after describing all the forces dragging down the economy. Full Report