Monday, January 14, 2008

Central Planners Meet

House Speaker Nancy Pelosi and Fed chief Ben Bernanke met Monday to discuss how Congress might act to stimulate the slowing economy.

Pelosi, D-Calif., is taking the lead as Democrats controlling Congress have reached out to the White House to work toward an economic stimulus measure that could get enacted relatively quickly.

Pelosi said it was her "hope that we can find a bipartisan initiative - recognizing the independence of the Fed - and with some coordination so that we can have a fiscal stimulus ... helping families and helping states feeling pressure."

Bernanke, chairman of the Federal Reserve Board, did not comment after the meeting and has been circumspect in his public statements about whether fiscal stimulus such as tax rebates or additional government spending is needed. He signaled last week that the Fed will continue easing interest rates in an effort to keep the economy from plunging into a recession.

read the CNN story

Stopping the printing presses would help with inflation rate that is going to be making headline before the year's end.

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