Fed to fight inflation and weak dollar

Speaking to via satellite to the International Monetary Conference in Barcelona, Fed chairman Ben Bernanke hinted there would be no more interest rate cuts in the near future as the Fed looks at ways of curbing the additional downside risks to growth. “In collaboration with our colleagues at the Treasury, we continue to carefully monitor developments in foreign exchange markets,” Bernanke says. “The challenges that our economy has faced over the past year or so have generated some downward pressures on the foreign exchange value of the dollar, which have contributed to the unwelcome rise ...