Alan Mulally, Ford's chief executive, has lent his voice to calls for the Federal Reserve to stimulate the US economy, saying the housing crisis and the credit turmoil had turned economic growth into a "priority".

In a thinly veiled call for a rate cut, Mr Mulally said economic and credit conditions were a "big headwind" to his plan to turn round the carmaker, which last year lost $12.6bn (£6.3bn).