WASHINGTON — Federal Reserve Chairman Ben Bernanke yesterday hinted that another interest rate cut may be needed to bolster the economy. The worsening credit crunch, a deepening housing slump and rising energy prices probably will create some "headwinds for the consumer in the months ahead," he said.

Bernanke said he expects consumer spending to continue to grow and he suggested that the country can withstand the current problems without falling into a recession. But he also indicated that consumers could turn more cautious amid all the stresses.

A sharp cutback in consumer spending could send the economy into a tailspin. Against this backdrop, Fed policymakers will need to be "exceptionally alert and flexible," Bernanke said.

That comment probably will be viewed as a sign the Fed may lower interest rates when it meets Dec. 11, its last session of the year.

"Bernanke is leaning in the direction of a rate cut," said Global Insight economist Brian Bethune.

Twice this year — in September and late October — the central bank has trimmed rates to keep the housing woes and credit crunch from throwing the economy into a recession.

At the October meeting, Bernanke and his Fed colleagues signaled that further cuts might not be needed. Since then, however, financial markets have seen more turmoil. The housing slump has deepened, consumer confidence has plummeted and consumer spending "has been on the soft side," Bernanke said in a speech last night to business people in Charlotte, N.C.

The economic outlook has been "importantly affected over the past month by renewed turbulence in financial markets, which has partially reversed the improvement that occurred in September and October," Bernanke said.