interest rate cuts

Stocks were mostly higher in Europe and Asia as investors focused on the prospect of interest rate cuts.

Stocks wavered in Europe, a day after their worst decline in 21 years, amid expectations that central banks were poised to implement coordinated interest rate cuts.

Federal Reserve Chairman Ben Bernanke signaled Tuesday that further interest rate cuts are unlikely because of concerns about inflation.

High oil prices are a double-edged sword that can both put a damper on already weak growth and spread inflation, he said.

Federal Reserve Chairman Ben Bernanke signaled Tuesday that further interest rate cuts are unlikely because of concerns about inflation.

High oil prices are a double-edged sword that can both put a damper on already weak growth and spread inflation, he said.

Federal Reserve Chairman Ben Bernanke warned Congress on Wednesday that the economy may shrink over the first half of this year, which would signal the start of a recession.

Yet, he didn't offer assurances of further interest rate cuts.

Wall Street appeared poised to rebound Tuesday amid investor hopes that the Federal Reserve will increase the pace of interest rate cuts and also pump more liquidity into the financial system.

At the same time the market was eyeing crude oil's unrelenting march higher as the price briefly topped $109 a barrel.