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Strategies & Market Trends : Befriend the Trend Trading

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From: Dr. Stoxx	11/30/2007 6:04:48 AM
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Bernanke: Fed 'alert' and 'flexible' Federal Reserve chief says central bank is keeping a close eye on financial market turmoil and doesn't rule out another rate cut. By David Ellis, CNNMoney.com staff writer November 30 2007: 5:46 AM EST NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke said Thursday that the central bank remains concerned about consumer spending strength and problems in the financial markets and will stay "alert and flexible" leading up to its next meeting on Dec. 11. Addressing the Charlotte Chamber of Commerce in North Carolina, the central bank chief spoke candidly about developments since policymakers last met in October, but hedged whether the Fed would continue its interest rate cutting campaign. "We at the Federal Reserve will have to remain exceptionally alert and flexible as we continue to assess how best to promote sustainable economic growth and price stability in the United States," Bernanke said in prepared remarks. Those words echoed remarks issued a day earlier by the Federal Reserve's No. 2 official, Donald Kohn, who said that the central bank needed to remain "nimble" and that it can't risk a threat to the economy just to teach market speculators a lesson. Major indexes soared Wednesday after investors interpreted Kohn's remarks to mean that the central bank will continue to cut interest rates when policymakers convene in December.

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