NY Fed President Says Intervention Could Be Necessary

In the most pointed sign yet that the Federal Reserve is likely to engage in further quantitative easing, Federal Reserve Bank of New York President William Dudley described the current outlook job growth and inflation as “unacceptable”.

“We have tools that can provide additional stimulus at costs that do not appear to be prohibitive,” Dudley, who serves as vice chairman of the Fed’s policy-setting Open Market Committee, said today in a speech to business journalists in New York. “Further action is likely to be warranted unless the economic outlook evolves in a way that makes me more confident that we will see better outcomes for both employment and inflation before too long.”

Bloomberg

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