Federal Reserve Coming To Obama's Rescue: Ready to Print More Money
Policy makers at the US Federal Reserve are leaning
toward more stimulus action "fairly soon" unless economic data turns
around, minutes from their meeting three weeks ago showed Wednesday.
The minutes revealed most members of the Federal Open Market
Committee were concerned about slowing growth and the vulnerability of
the economy to external threats, particularly economic instability in
"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 record of the July 31-August 1 FOMC meeting said.
"A number of members noted that if the recent modest rate of
economic growth were to persist, the economy would be less able to
weather a material adverse shock without slipping back into recession,"
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