From the Least Likely Sources
by: Les Carpenter Rational Nation USA Birthplace of Independent Conservatism Several months after the Federal Reserve initiated it's experiment to spur economic recovery by buying large quantities of federal debt The New York Times is reporting most economist now view the effort as disappointing. But most Americans are not feeling the difference, in part because those benefits have been surprisingly small. The latest estimates from economists, in fact, suggest that the pace of recovery from the global financial crisis has flagged since November, when the Fed started buying $600 billion in Treasury securities to push private dollars into investments that create jobs. As the Fed’s policy-making board prepares to meet Tuesday and Wednesday — after which the Fed chairman, Ben S. Bernanke, will hold a news conference for the first time to explain its decisions to the public — a broad range of economists say that the disappointing results show the limits of the central bank’s ...