Fed: Housing hindering economy

July 19, 2007 12:00AM

Federal Reserve Chairman Ben Bernanke said yesterday that the Fed was slightly reducing its growth forecast for the remainder of 2007 because of the country’s weak housing market. The Fed forecasts that the economy will grow moderately for the rest of this year. Bernanke also said that regulators need to tighten subprime lending regulations. more [NYT]

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