Fed Defies GOP Pleas To Not Do Anything to Help the Economy
The Federal Reserve is mandated “to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.” So, unlike the GOP at least the Fed is doing the job their supposed to do. The NYTimes reports : The Federal Reserve announced a new plan Wednesday to stimulate growth by purchasing $400 billion in long-term Treasury securities with proceeds from the sale of short-term government debt, defying Republican demands to refrain from new actions. In extending its campaign of novel efforts to shake the economy from its torpor, the Fed said that it was responding to evidence that there was a clear need for help.
Fed Defies GOP Pleas To Not Do Anything to Help the Economy
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on September 21, 2011. Filed under