(Reuters) - "Overall, the U.S. economy appears likely to expand at a moderate pace over the second half of 2007, with growth then strengthening a bit in 2008 to a rate close to the economy's underlying trend," he said in semiannual testimony prepared for delivery to the House of Representatives Financial Services Committee.
But Bernanke warned that a slowdown in the U.S. housing market may last longer than anticipated, and said that further hikes in energy and commodity prices could spark inflation and push closely watched core inflation up.
Read more at Reuters.com Business News
But Bernanke warned that a slowdown in the U.S. housing market may last longer than anticipated, and said that further hikes in energy and commodity prices could spark inflation and push closely watched core inflation up.
Read more at Reuters.com Business News
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