The Federal Reserve said Tuesday that it was prepared to take new steps to bolster the recovery if necessary and said inflation was getting too low, but officials deferred action. Central bank officials have been debating whether to restart a program of securities purchases aimed at driving already-low long-term interest rates down even further, in an effort to reduce borrowing costs for households, businesses and the U.S. government. The Fed “is prepared to provide additional accommodation if needed to support the economic recovery,” officials said in a statement at the end of a one-day meeting. Inflation is below the Fed’s …
Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio
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Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio