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Republicans Tell Federal Reserve To Sit On Its Hands

September 21, 2011 by  

WASHINGTON, Sept. 21 (UPI) — Republican leaders in Washington said in a letter to U.S. Federal Reserve Chairman Ben Bernanke it was not the time to add any stimulus to the economy.

The Fed’s Open Market Committee is in a two-day monetary policy meeting that began Tuesday and ends Wednesday afternoon. The letter from four party leaders in Washington was sent to Bernanke Tuesday evening, The New York Times reported.

The letter from Senate Minority Leader Mitch McConnell, Senate Republican Whip Jon Kyl, House Speaker John Boehner and House Majority Leader Eric Cantor says, “We have serious concerns that further intervention by the Federal Reserve could exacerbate current problems or further harm the U.S. economy.”

The Fed has described several steps it could take to add stimulus to the economy, which could be announced at 2:15 p.m., when the meeting adjourns.

Some believe the Fed will take action to prop up a badly stumbling economic recovery.

“I just don’t think the Fed will sit idly as momentum fizzles in this recovery,” Credit Suisse economist Dana Saporta told the Times.

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  • Christin

    Good job… to the four Republican party leaders for telling the unconstitutional FED Reserve Banking cartel to SIT ON IT!

    We don’t want your stinking fiat paper money you are printing and not backing with gold metal to hyper-inflate our economy into an unrecoverable spiral free fall.

  • s c

    As long as ‘Republicans’ don’t expect any applause for this position, then it can be said they did the right thing. At the same time, while we’re talking about integrity and taking care of America, i’d like to know how many times since 1913 the ‘Republicans’ ever dared to say squat to or about the Fed?
    As for the ‘Dems,’ forget it. They don’t know up from down, and they’ll probably NEVER understand or admit that the Fed is a PRIVATE CORPORATION. It has a MONOPOLY on America’s wealth, and it has been sucking the life out of America and America’s wealth since 1913.
    Isn’t it funny how ‘Dems’ can be so ‘compassionate’ and yet so HYPOCRITICAL when it comes to the Fed? They LOVE GE (which hasn’t been paying TAXES), and somehow they manage to find ways to HATE most corporations.
    I guess it means that to a ‘Dem’ (whatever you want to call the pathetic SOBs), hypocrisy is also a religion, and at the moment the current high priest is Obummer. It fits, doesn’t it?

    • Christin

      s c,

      Yep, sure does…

      Good post.


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