Tuesday, July 24, 2012

Fed Moves Closer to Action (If The Recovery Doesn’t Firm Up)




Federal Reserve officials want some action. Impatient with the economy's sluggish growth and high unemployment, they are moving closer to taking new steps to spur activity and hiring.

Since their June policy meeting, officials have made clear—in interviews, speeches and testimony to Congress—that they find the current state of the economy unacceptable. Many officials appear increasingly inclined to move unless they see evidence soon that activity is picking up on its own.

Amid the recent wave of disappointing economic news, conversation inside the Fed has turned more intensely toward the questions of how and when to move. Central bank officials could take new steps ...

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