Fed to ponder whether bolder action needed

[defendandprotect]

Fed to ponder whether bolder action needed


By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – 1 hr 15 mins ago
WASHINGTON – Federal Reserve policymakers are wrestling with what additional steps — if any — should be taken to strengthen the plodding economy and drive down near double-digit unemployment.

Lots of lively debate is expected at Tuesday's meeting. But few expect any major programs to be unveiled. Instead, many will be looking to see if the Fed offers new clues about the timing of any new aid and what changes in the economy would trigger such a move. To give the Fed extra time for discussions, Tuesday's meeting is scheduled to start around 8 a.m. — earlier than when it has two-day sessions.

There are differing views on the Fed's main policymaking group — the Federal Open Markets Committee — about what should be done. And some pressure is off after a few mildly positive economic reports showed the pace of layoffs has slowed, shoppers' appetites to spend has picked up and factory production is growing.

http://news.yahoo.com/s/ap/20100921/ap_on_bi_ge/us_fed_interest_rates

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Notice, folks -- our economic furture is not in the hands of those we elect, but in the

hands of a private bank! Are we nuts?

[SDuderstadt]

1. More bullshit from D&P...

the Federal Reserve is NOT a private bank...it is a self-funded, independent federal agency. The member banks are required to own subscription stock in the REGIONAL Federal Reserve Banks, but those regional banks are not controlled by their "owners" but, rather, by the Board of Governors, which is appointed by the President and confirmed by the Senate.

I don't know why this silly bullshit needs to be knocked down so many times.

[defendandprotect]

2. kick