Money | Ben Bernanke Bernanke Hints at Rate Cut Fed chief expresses concern about housing, financial markets By John Johnson Posted Nov 29, 2007 7:18 PM CST Copied Federal Reserve Chairman Ben Bernanke speaks at the 2007 Charlotte Chamber annual meeting Thursday, Nov. 29, 2007, in Charlotte, N.C. (AP Photo/Nell Redmond) (Associated Press) Ben Bernanke signaled tonight that the Fed is ready to cut interest rates again to help the struggling economy, the Wall Street Journal reports. The Fed chief said the nation's housing troubles and its offshoots are straining the economy and financial markets and will "create some headwinds for the consumer in the months ahead." The Fed meets again Dec. 11. "I expect household income and spending to continue to grow," Bernanke said, but he warned of "the combination of higher gas prices, the weak housing market, tighter credit conditions, and declines in stock prices." Another Fed official made similar remarks yesterday, leading many to speculate that the Fed will cut the current 4.5% rate by at least a quarter point. Read These Next A former NFL Pro Bowler has died at age 36. Backlash for Trump nominee who said he has 'a Nazi streak.' The massive AWS failure exposed a big problem with the internet. A man ended up dead after trying to steal from Spirit Halloween. Report an error