Fed Officials Warn on World Economy

[alp227]

Source: WSJ

Federal Reserve officials said Tuesday they saw rising risks in the world economy, but didn't commit themselves to supporting more central-bank measures to boost growth.

Fed vice chairwoman Janet Yellen urged leaders in Europe, China and the U.S. to take stronger action to prevent a new global recession.

"The global economy is facing critical challenges," Ms. Yellen said at a conference on Asia hosted by the Federal Reserve Bank of San Francisco. She cited risks posed by Europe's debt crisis, slowing growth in emerging Asian economies and the hobbled U.S. housing market.

The Organization for Economic Cooperation and Development said Monday the global economic outlook had deteriorated significantly, with the euro zone headed for a recession.

Read more: http://online.wsj.com/article/SB10001424052970204449804577068560915659568.html?mod=googlenews_wsj

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[defendandprotect]

1. And for two years as things have worsened they've done nothing -- except they

are filling the role our Congress should be filling --

discussing and debating our economy and what to do about it!!

This is just more of the effort to move authority out of the Congress and

into private hands!

[No Elephants]

2. The Federal Reserve did a fine job preventing this, what with "markets correct themselves."