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A dismal January for the US economy

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New York Times Posted: Jan 19, 2008 at 0049 hrs IST
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Hints from Ben S Bernanke, the Fed chairman, that the central bank would lower interest rates at its meeting later this month left many investors unimpressed. In a testimony before the Congress on Thursday, Bernanke promised to support a Government stimulus package to prop up the ailing economy.

Some market watchers said the chairman was leaning on government support in lieu of aggressively cutting rates. “The market is frustrated with Bernanke,” Kovacs said. “Bernanke said it would be nice to have an economic stimulus package to help him with his fight. You didn’t see Greenspan asking for help.”

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