Fed 'Hawks' Weigh in Against More Action
Fed 'Hawks' Weigh in Against More Action
The Federal Reserve's "hawks" are speaking out against additional action by the central bank to spur the economy. The remarks highlight the complicated decision Fed policymakers face as they consider whether to launch a new round of quantitative easing at their meeting next month.
Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said Wednesday that additional action by the Fed would be of minimal long-term benefit to the economy. Moreover, he said, the Fed could do little on its own to address problems out of its control that are holding back growth.
Source: "Fed 'Hawks' Weigh in Against More Action," The Wall Street Journal (Aug. 17, 2012)
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