THE FOMC MINUTES
8 April 2009 by TPC
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The FOMC had a very downbeat assessment of the economy at their latest meeting. Deflation is a very serious concern and growth is unlikely to return to the economy until 2010. They said credit markets are “still not working well”. They are also seeing subdued demand for their various lending programs.
In other words, they’re out of bullets now and things aren’t getting any better. Full report here:
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