Fed Takes No New Action at Final Meeting of 2011

Fed takes no new action at final meeting of 2011WASHINGTON (AP) - The Federal Reserve says the economy has grown moderately as hiring and consumer spending have improved. As a result, it's holding off on any new steps to boost the economy.

Fed officials cautioned in their statement that unemployment remains high. And it noted that global economic growth has slowed - a reference to Europe's debt crisis. They left open the possibility of taking new steps next year if the economy worsens.

Most economists expect Fed policymakers used their final meeting of the year to fine-tune a strategy for communicating changes in interest rates more explicitly. The Fed has left rates near zero for the past three years.

The statement was approved by a 9-1 vote. Charles Evans dissented for the second straight meeting.

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some1do

There is not much the FED can do.
1. FED makes credit easy.
2. Banks do not lend because they don't think they will get their money back.
3. Borrowers do not borrow because they don't think they can pay it back.
Google for "DEFLATIONARY CRASH" to understand how the money supply can deflate despite FED's printing press.

December 19 2011 at 11:56 PM Report abuse rate up rate down Reply
jhrooney

The fed says the economy is improving. I wonder if it will improve enough to save Obama. I for one don't have a clue where it is improving.

December 14 2011 at 1:37 PM Report abuse rate up rate down Reply
1 reply to jhrooney's comment
billyjoeobama

It's improving in hiring more federal employees. 140,000 since 2009, and Barack added over 100 new limos to the white house fleet. You don't expect his campaign donors to walk to the White House party's do you?

December 14 2011 at 3:07 PM Report abuse rate up rate down Reply
Jon

Very interesting interview with Ron Paul on the Alex Jones Show:

http://djia.tv/ron-paul/ron-paul-on-the-alex-jones-show/

December 14 2011 at 12:32 PM Report abuse rate up rate down Reply
cpo1514

Ahhhh yesss.... What to do to prop up the Occupier of the White House.... do nothing & go to Hawaii in two planes... atta boy Barry... before you know it it will be November 2012 & you can JUST GO AWAY.

December 14 2011 at 11:32 AM Report abuse +2 rate up rate down Reply
BUFFALO

I am not sure that doing nothing at this time is something to be looked on as positive but at least it didn't cause a 300 point swing in the market today and gold is a flat out bargain and that fact won't be lost on the asian market tonight so you would be smart to get some now!!

December 14 2011 at 11:11 AM Report abuse +1 rate up rate down Reply
comfy01

No action is good action. All a bunch of idiots with no semse of reality.

December 14 2011 at 10:01 AM Report abuse +1 rate up rate down Reply
wwas3434

http://tbwsdailyshow.com/2011/12/13/whats-your-share-of-the-secret-7-7-trillion-bailout/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed28The+TBWS+Daily+Show%29 go there to see the theft by the Fed

December 13 2011 at 8:46 PM Report abuse -1 rate up rate down Reply
jdykbpl45

Thank you, Ben Bernake, for a nice sell off,

December 13 2011 at 4:43 PM Report abuse +2 rate up rate down Reply
marine1942

Sorry for my repeated comments as I thought Huff Post ? AOL was going to throw it out again. They really ponder with the word "Obama"
Heck--I ponder also--

December 13 2011 at 3:08 PM Report abuse +3 rate up rate down Reply
marine1942

They took no adtion. That is good !! Everytime they have messed with it economy has tanked more
Hey Obama, I am not better off today....

December 13 2011 at 3:07 PM Report abuse +4 rate up rate down Reply