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Fed searches for new tools to lift economy (Like to donate a 'tool'? Call Ben Bernanke ASAP)
AFP on Yahoo ^ | 3/17/09 | Rob Lever

Posted on 03/17/2009 2:56:08 PM PDT by NormsRevenge

WASHINGTON (AFP) – Deprived of its main weapon to revive economic activity, the Federal Reserve opened a two-day meeting Tuesday to consider new tools to open up credit markets and tackle the worst crisis since the 1930s.

The Federal Open Market Committee (FOMC), which began deliberations at 1800 GMT Tuesday, was expected to leave unchanged its base lending rates at zero to 0.25 percent as it mulls further moves to tackle the credit crunch and economic slump.

An announcement by the FOMC is expected around 1815 GMT Wednesday.

With the traditional tool of interest rate policy now exhausted, the central bank is focused on extraordinary efforts to pump up credit to boost the economy.

It has already started buying up mortgage securities and corporate commercial paper, and is set to launch a new program to pump 200 billion dollars into consumer credit through the purchase of securities linked to auto, student and other types of loans.

Fed chairman Ben Bernanke calls this "credit easing," saying it is aimed at stimulating borrowing and thus different from "quantitative easing" used in the 1990s in Japan and now mulled by other central banks.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Government
KEYWORDS: bernanke; economy; federalreserve; searches; tools

1 posted on 03/17/2009 2:56:08 PM PDT by NormsRevenge
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To: NormsRevenge

They need new tools?

Have they worn out Couric, Matthews and Stewart already?


2 posted on 03/17/2009 2:57:42 PM PDT by BenLurkin (Mornie` utulie`. Mornie` alantie`.)
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To: NormsRevenge

How about the “jaws of life” on Ben’s butt?


3 posted on 03/17/2009 2:58:29 PM PDT by Jagman (What were once vices are now stimulus elements!)
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To: NormsRevenge

They’ve got plenty of tools, Bernanke, Geitner, Obama, Rahm, Barney, Pelosi, Reid, how many “tools” do you need???


4 posted on 03/17/2009 2:59:45 PM PDT by rednesss (fascism is the union,marriage,merger or fusion of corporate economic power with governmental power)
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To: NormsRevenge

They don’t need a tool, they need adult supervision.


5 posted on 03/17/2009 3:10:30 PM PDT by Steamburg ( Your wallet speaks the only language most politicians understand.)
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To: NormsRevenge

There are already enough tools in DC thank you very much!


6 posted on 03/17/2009 3:12:54 PM PDT by rightwingextremist1776
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To: NormsRevenge

1. Cut gubment spending by 80% and give me back my money.
2. Let the welfare queens get jobs and look for husbands.
3. Make pure Capitalism Constitutionally required.


7 posted on 03/17/2009 3:26:04 PM PDT by SampleMan (Socialism and Liberty are mutually exclusive.)
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To: NormsRevenge
I've got a pitchfork that I'm not using at the moment, but I may need it back pretty soon!


8 posted on 03/17/2009 3:38:20 PM PDT by DJ Frisat (I don't run in the Special Olympics and I don't try to reason with liberals.)
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To: NormsRevenge

I have new tools — mass resignations by the ZERO Administration would fit the bill including the resignation of the Lazy President who is overworked as he never had to work before.


9 posted on 03/17/2009 3:39:41 PM PDT by PhiKapMom ( BOOMER SOONER! Mary Fallin for OK Governor in 2010! LetsGetThisRight.com)
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