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Fed Assistance Still Needed as Economy Recovers, Officials Say - The Hill's

Fed Assistance Still Needed as Economy Recovers, Officials Say - The Hill's

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Published by Christopher DeWitt

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Published by: Christopher DeWitt on Jan 17, 2011
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Fed assistance still needed as economy recovers, officials say - The Hill's On The Moneyhttp://thehill.com/blogs/on-the-money/banking-financial-institutions/138181-fed-assistance-still-needed-as-economy-recovers-officials-say[1/17/2011 12:17:50 AM]
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Monday, January 17, 2011
 
BLOGS
BUSINESS &LOBBYING
NEWS BYSUBJECT
OPINION
Fed assistance still needed as economy recovers, officials say 
By Peter Schroeder
-
01/16/11 02:20 PM ET
Federal Reserve officials said Friday the central bank still needs totake steps to boost the domestic economy even if it appears to be growing at theoutset.Boston Federal Reserve Bank President Eric Rosengren said the Fed's efforts to boost the economy cannot wane until the recovery is broader and more well-established. In addition, further steps from the Fed may be needed if thehousing sector continues to impede the recovery."There will be a time when these aggressive actions need to be reversed, butfirst we need to get the economy on a much more solid footing," saidRosengren, according to
.The Fed has come under fire recently for its decision to buy $600 billion of Treasury bonds in a "quantitative easing" effort. Fed officials maintain the buybacks will help boost private lending, but critics, including several in theRepublican Party, argue it will cause inflation.Federal Reserve Governor Daniel Tarullo told CNBC that he saw no reason toalter the $600 billion purchase program, which is scheduled for completion atthe end of July.
The Fed is incompetent. They have destroyed the Dollar and created three harmful asset bubbles in the past 12 years. It is time we abolish the Fed.BY 
 
JON
 
on 01/16/2011 at 16:53Ron Paul is now in position to seriously rattle the FED's cage. They should be stepping very gingerly. Congress allowed the FED to be born, and they have the power to do away  with it. Expect to see Bernanke and other officers testifying this year…a lot.
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Fed assistance still needed as economy recovers, officials say - The Hill's On The Moneyhttp://thehill.com/blogs/on-the-money/banking-financial-institutions/138181-fed-assistance-still-needed-as-economy-recovers-officials-say[1/17/2011 12:17:50 AM]
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Fed assistance still needed as economy recovers, officials say - The Hill's On The Moneyhttp://thehill.com/blogs/on-the-money/banking-financial-institutions/138181-fed-assistance-still-needed-as-economy-recovers-officials-say[1/17/2011 12:17:50 AM]
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