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G.O.P. Urges No Further Fed Stimulus – NYTimes.com

This kind of interference with a sane independent body as important as the Fed is a very bad sign IMHO.

 

G.O.P. Urges No Further Fed Stimulus

By CATHERINE RAMPELL

Published: September 21, 2011

 

Even though the financial markets have been counting on the Federal Reserve to take action, Republican Congressional leadership sent a letter to the Federal Reserve chairman on Tuesday evening urging it not to engage in further stimulus.

Chip Somodevilla/Getty Images

Ben Bernanke, the chairman of the Fed, which is expected to lower long-term rates.

The letter was sent in the midst of a two-day meeting in which Fed officials are widely expected to undertake policies to lower long-term interest rates. That move would be intended to loosen up credit in hopes of promoting growth. The meeting ends Wednesday, and the Fed is expected to release a statement Wednesday at 2:15 p.m.

via G.O.P. Urges No Further Fed Stimulus – NYTimes.com.

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