Fed set to downgrade outlook for US

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The Federal Reserve is set to downgrade its assessment of US economic prospects when it meets on Tuesday to discuss ways to reboot the flagging recovery.

Faced with weak economic data and rising fears of a double-dip recession, the Federal Open Market Committee is likely to ensure its policy is not constraining growth and to use its statement to signal greater concern about the economy. It is, however, unlikely to agree big new steps to boost growth.

http://www.ft.com/cms/s/0/dedcb986-a316-11df-8cf4-00144feabdc0.html

 

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Top Story AICPA CPA Daily Letter 8-10-2010


Fed likely will consider stimulus measures as the economy falters
Officials at the Federal Reserve are expected to consider and possibly adopt fresh economic stimulus at their meeting today. Economic data since the Fed's most recent policy-setting meeting have been disappointing. Interest rates already are near zero, so additional easing of monetary policy is not an option. Instead, Fed officials might decide to buy bonds with proceeds from maturing securities. The Washington Post (8/10) , Reuters (8/10)