Wednesday, August 22, 2012

Many Fed members want action ‘fairly soon’ to boost economy

Minutes of the last meeting of the Federal Reserve reveal that many board members see the need for additional monetary action “fairly soon” to boost the pace of economic recovery., according to the Washington Post. The minutes also show that the Fed staff and many of its board members expect inflation and interest rates to remain low in 2014 as a result of slack in the economy.

“Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery,” the minutes said….

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