Internal Squabbles at Fed

Federal Reserve officials are publicly disagreeing over the benefits of pursuing new monetary stimulus in a sign that Chairman Ben S. Bernanke hasn’t secured a consensus on whether to buy more Treasuries. Policy makers have the tools to act and should respond “vigorously, creatively, thoughtfully and persistently” to a slow recovery, Boston Fed President Eric Rosengren said yesterday in a New York speech. Separately, Philadelphia Fed President Charles Plosser said in New Jersey that the central bank risks its credibility by taking actions, such as additional securities purchases, that may fail to help the labor market. Read more here:

Internal Squabbles at Fed