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Economists Weigh In on the Fed's Shocker

 

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FRB: Press Release--FOMC statement--March 18, 2009
federalreserve.gov 3/18/2009 — Release Date: March 18, 2009 For immediate release Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit ...
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ft.com 3/18/2009 — The Federal Reserve is on a war footing and it is using the Powell doctrine – only go to war as a last resort, and do so with overwhelming force. The stunning news that it would buy $300bn (€222bn) in Treasury bonds (and spend a lot more on many other ...
OverviewThe Economist: Full print edition 3/19/2009
There was more gloomy news on industrial production: in the year to the fourth quarter it fell by 10.3% in Hong Kong; in the year to January it was down by 19.2% in Germany, 16.7% in Italy and 11.1% in Mexico; and in the year to February it dropped ...
Business this weekThe Economist: Full print edition 3/19/2009
The Federal Reserve said that it would buy up to $300 billion in long-term American treasury bonds and several hundred billions more in mortgage-backed securities in an attempt to see off the threat of deflation. The unanimous decision came at a ...