Economics
Fed Officials Say More QE May Lack Punch, Fiscal Aid Needed
- Dallas Fed’s Kaplan sees slower recovery without more stimulus
- Boston Fed chief Rosengren calls lack of more aid ‘tragic’
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Federal Reserve officials kept up pressure for Washington to renew fiscal support for the virus-ravaged economy even as hopes of a deal between Democrats and Republicans continued to look dim.
Without additional fiscal relief, the recovery will likely be a lot weaker, Dallas Fed President Robert Kaplan said in a Bloomberg Television interview with Kathleen Hays Thursday. He said the Fed likely won’t increase large-scale asset purchases right now as it wouldn’t do much to help the real economy.