Quantitative Easing Latest News: Fed Wants More Job Gains Before Slowing Bond Buys

Even as consensus built within the Federal Reserve in June about the likely need to begin pulling back on economic stimulus measures soon, many officials wanted more reassurance the employment recovery was on solid ground before a policy retreat. Uncertainty about how well the Federal Reserve's unconventional policy tools will work means using them more aggressively would not necessarily bring U.S. unemployment and inflation back to normal levels more quickly, a top Fed official said. One has to welcome the European Central Bank's bold break with tradition last week by announcing that it plans to keep interest rates low for an extended period of time.
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