FEDERAL RESERVE: It's Congress's Fault That The Economy Is So Weak

The Fed statement is out, and there’s not much new in it.

One change is that the Fed says that Fiscal Policy (the austerity imposed by Congress) is constraining growth.

In the previous statement, it merely said that Fiscal policy was becoming more “restrictive.”

Here are the two opening paragraphs of the last two statements.

Here’s the current statement

fedonfiscal1

And here’s the one from March 20

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