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Federal Reserve Chairman Ben Bernanke said the U.S. and other countries must work together to correct the global imbalance of trade and investment, offering no clue about whether the central bank will cut rates at its Sept. 18 meeting.
As for prospects of fixing the problem, Bernanke said, "Signs of progress have appeared but ... most countries have only just begun to undertake the policy changes that will ultimately be needed." He spoke at a conference in Berlin.