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Republican lawmakers warn Federal Reserve against action on economy

On the eve of a major Federal Reserve policy decision, Republican congressional leaders have taken the unusual step of warning the traditionally independent central bank not to take measures aimed at spurring economic growth.________________________________________________________________________In a letter to Fed chair Ben Bernanke Tuesday afternoon, the Republicans argued that an earlier effort by the Fed to stimulate the economy, known as quantitative easing, may have done more harm than good. "Although the goal of quantitative easing was, in part, to stabilize the price level against deflationary fears, the Federal Reserve's actions have likely led to more fluctuations and uncertainty in our already weak economy," they wrote.________________________________________________________________________The letter was signed by the top two Republicans in both chambers: Speaker of the House J

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Added: Sep-21-2011 
By: Tongueboy
In:
Politics
Tags: economy, the fed, republicans want America to fail
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