30 Aug '11, 7pm

Federal Reserve can do more to boost economy: minutes

Federal Reserve can do more to boost economy: minutes

WASHINGTON: The US Federal Reserve is still ready to act to boost the economy, Fed documents showed on Tuesday, despite chairman Ben Bernanke's stressing last week that the government holds the tools for growth. But some Fed officials were still dubious that anything the central bank does can help lower the 9.1 percent unemployment rate or boost near-stagnant growth, the minutes of the August 9 meeting of the Federal Open Market Committee showed. The minutes showed members of the key policy board actively discussing what options the Fed has if the economy continues to stall. "While all felt that monetary policy could not completely address the various strains on the economy, most members thought that it could contribute importantly to better outcomes in terms of the committee's dual mandate of maximum employment and price stability," the minutes said. FOMC members debated ...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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