Fed boss warns of growth 'risks'

The boss of the US Federal Reserve Ben Bernanke has warned that there are still "downside risks" to growth in the world's largest economy.

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President George W. Bush said the economy was "remarkably resilient", but urged Congress to pass legislation to help homeowners as soon as possible. He defended plans to help mortgage firms Fannie Mae and Freddie Mac but denied they were being bailed out.

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