Federal Reserve members are meeting in Washington today and Chairman Ben Bernanke is scheduled to issue a statement later today. It is expected the announcement will contain an outline on how the Fed plans to boost stimulus to support the badly sagging economy.
Ã¢â‚¬Å“The odds of more dramatic action are higher,Ã¢â‚¬Â said Vincent Reinhart, a former chief monetary policy strategist at the Fed. Ã¢â‚¬Å“However, they might not want to be seen as responding so directly to equity prices,Ã¢â‚¬Â Reinhart added.
More detail is expected when Bernanke speaks at a Federal Reserve conference at Jackson Hole, Wyoming on August 26th.
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