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The central bank made a mistake. It sent minutes from its most recent policy meeting to a small group of influential institutions, including some major banks, a day earlier than scheduled. But the minutes are always weeks old. Why are they important? Because they contain clues to the Fed's thinking.
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On the political far left and right, some believe that large banks still pose a threat to taxpayers. These banks are so big, they argue, that the government will step in with support if needed. Still, the more mainstream view in Washington is that the Dodd-Frank reforms are sufficient to handle the problem.
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But the Federal Reserve chairman warns Congress that the "sharp, front-loaded spending cuts" that would come with the so-called sequester could hurt the economy. He recommends "policies that reduce the federal deficit more gradually in the near term but more substantially in the longer run."
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The leaders of the Federal Reserve just did something that sounds boring but is actually a big deal: They promised to keep interest rates super low until the unemployment rate comes way down.
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Bernanke also said that the central bank doesn't have the tools to cushion the blow of driving off the fiscal cliff.
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The Federal Reserve chief said the new policy aims to stabilize economic growth.
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The Federal Reserve said it would buy $40 billion a month on bond purchases to stimulate the economy.
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The Fed has the power to create money. But it has another, critical power: The power of words.
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The Federal Reserve is meeting in Washington to discuss what to do with the sluggish economy. Analysts believe the Fed will take action, but some economists wonder if it will have an effect — or even be counterproductive.
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In a much-anticipated speech Friday, Federal Reserve Chairman Ben Bernanke spoke about the "nontraditional" measures he's had to use to boost the economy. The Fed can't use the traditional tool — lowering interest rates — because rates are already so low. At a meeting of central bankers in Jackson Hole, Wyo., Bernanke also warned about the dangers of the stagnant labor market.