Fed Sees Action if Growth Doesn't Pick Up Soon - WSJ.com
Federal Reserve officials, impatient with the economy’s sluggish
growth and high unemployment, are moving closer to taking new steps to
spur activity and hiring.
Since their June policy meeting, officials have made clear—in
interviews, speeches and testimony to Congress—that they find the
current state of the economy unacceptable. Many officials appear
increasingly inclined to move unless they see evidence soon that
activity is picking up on its own.
Amid the recent wave of disappointing economic news, conversation
inside the Fed has turned more intensely toward the questions of how and
when to move. Central-bank officials could take new steps at their
meeting next week, July 31 and Aug. 1, though they might wait until
their September meeting to accumulate more information on the pace of
growth and job gains before deciding whether to act.
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Hilsenrath is widely recognized as having the inside-track on goings on
at the Fed. And let’s be honest here, there doesn’t seem to be anything
to suggest the economy is going to pick-up any time soon. In fact the
data of late have been terrible. A week and a half out from the July
nonfarm payrolls report, surveys suggest we’ll see another bleak print,
with the median around +110k and the jobless rate holding steady at
8.2%.
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