Further rate cuts may be needed to spur economic growth, Federal Reserve Board chairman Ben S. Bernanke said yesterday.

“In light of recent changes in the outlook for and the risks to growth, additional policy easing may well be necessary,” Bernanke said in a speech yesterday before the Women in Housing and Finance and Exchequer Club Joint Luncheon, according to text released by the Fed. “The committee will, of course, be carefully evaluating incoming information bearing on the economic outlook. Based on that evaluation, and consistent with our dual mandate, we stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks.”

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