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Feds: More stimulus, please, if economy stays weak

Posted By Equipment World Staff On October 4, 2010 @ 10:58 am In Construction News | No Comments

There is no question that the transportation construction industry has benefited from the American Reinvestment and Recovery Act (ARRA), a.ka. “the stimulus,” but whether the stimulus was a good idea in the first place has been hotly debated.

However, Federal Reserve officials have said that we may need to pump ever more cash into the economy.

In a Reuters report, [1] two Fed policymakers said that more action would likely be needed unless the current economic outlook improves.

William Dudley, president of the Federal Reserve Bank of New York, described current conditions of high unemployment and low inflation as “unacceptable” while Chicago Federal Reserve Bank President Charles Evans said more easing was “desirable,” according to the Reuters report. [1]

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[1] In a Reuters report,: http://www.reuters.com/article/idUSTRE68S01020101001

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