Fed Stimulus Kept Intact due to Anxiety

The decision by Federal Reserve officials last month to continue the stimulus campaign came down to this: their anxiety that the economy might falter outweighed their anxiety that waiting to pull back would surprise and confuse investors.

The mounting fiscal crisis in Washington suggests that some months will pass before the Fed will have cause to reconsider.

The Fed came close to sounding a retreat in September, according to an official account of its meeting published Wednesday.

NY Times

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