Ex-Fed Official Poole Supports Fed's Policy Actions
"It is important that the economy not be permitted to enter a downward spiral leading to a deep recession and ongoing deflation," Poole said at a conference sponsored by the Cato Institute, a libertarian think tank where Poole is now a senior fellow.
"As the situation stabilizes, however, the Fed will have to pull back the bank reserves it is now creating. Otherwise, the result will be an eventual increase in inflation that will create major new problems," he said.
-By Brian Blackstone, Dow Jones Newswires; 202-828-3397; brian.blackstone@dowjones.com
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(END) Dow Jones Newswires
November 19, 2008 17:00 ET (22:00 GMT)
Publié le 19 novembre 2008 Copyright © 2008 Dowjones
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