Bernanke signals Fed's going to stay on the rate-cut path

Date: Wed, 27 Feb 2008 17:01:03 (GMT)
Bernanke signals Fed's going to stay on the rate-cut path

The Federal Reserve will remain on course toward implementing additional
interest-rate cuts, at least in the near term, although the journey has
become more treacherous as prices are rising, the U.S. central bank's
chairman said Wednesday. Downside risks to economic growth remain the
key focus of monetary policymakers, Federal Reserve chief Ben Bernanke
told Congress. Inflation remains a secondary concern.

U.S. stocks turn higher on Fannie, Freddie news

U.S. stocks on Wednesday turned modestly higher on word from government
regulators that portfolio caps on Fannie Mae and Freddie Mac would be
raised March 1 and after Federal Reserve Chairman Ben Bernanke offered
rate cut reassurances.

Futures Movers: Crude dips after weekly data; contract eclipsed $102
overnight

SAN FRANCISCO
Crude-oil futures fell more than $1 to below $100 a barrel Wednesday,
pulling back after hitting a fresh record high above $102 overnight, as
traders weighed a bigger-than-expected buildup in U.S. crude inventories
as well as a historic low set by the dollar against the euro.

Economic Report: Business investment weakens in January

WASHINGTON
Demand for durable goods fell back in January after a burst of orders in
December, the Commerce Department reported Wednesday, another sign that
the economy is slowing.

European regulator fines Microsoft $1.35 billion

The European Commission on Wednesday announced $1.35 billion in fines
against Microsoft Corp., stemming from a years-long struggle with the
software giant over allowing rivals access to its technology.