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Bernake says he ready to take action

Ben Bernanke, chairman of the Federal Reserve, left no doubt Thursday that the nation’s central bank will continue to ease credit conditions to fight a slowdown in economic growth

Top Fed officials, in recent statements and minutes of Fed meetings, have disagreed on the urgency for more cuts in interest rates. But after Bernanke’s speech in Washington, the decision seemed clear.

“In light of changes in the outlook for and the risks to growth, additional policy easing may well be necessary,” he said. “We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks.”

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