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U.S. Federal Reserve Chairman Ben Bernanke told Congress Thursday he sees a slowing U.S. economy heading into 2008.

Bernanke, in a prepared testimony to the U.S. Congress' Joint Economic Committee, said he expects the economy to slow "noticeably" from its third-quarter growth rate and remain sluggish in the first half of 2008. The U.S. economy grew at a 3.9% rate in Q3.

Further, Bernanke added the Fed will make sure that the potential inflationary effect from higher import prices -- stemming from a falling dollar -- does not work itself into the general economy and increase inflation.


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Fed's Bernanke: U.S. GDP to slow, USD remains reserve currency originally appeared on BloggingStocks on Thu, 08 Nov 2007 12:44:00 EST. Please see our terms for use of feeds.

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