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Unformatted text preview: Joseph Arabbo Professor Tracy WSJ Article July 9, 2010 Fed’s Lacker: Economy Is Recovering Despite Weak Data Summary This article in the Wall Street Journal addresses the concern about the state of the U.S economy. I t mainly expresses the opinions and standpoint of Federal Reserve Bank of Richmond President, Jeffrey Lacker. Anxiety about high unemployment and slowing growth during our “recovery” is driven largely by “major health-care and bank reforms in Washington and the threat posed by European economic and financial problems” Many economists thought the Federal Reserve would have stepped in by now, but are thinking it won’t be until 2011 until they actually raise interest rates. He claims that the growth is not established and strong enough for the Fed to instill higher rates. Some economists wonder if raising interest rates alone will help, or if they must make new steps to assist in stimulating economic growth. Lacker believes that this recovery will be an “uneven and choppy” one and doesn’t yet need a fresh push from the Fed to get it going. I t is “uneven and choppy” one and doesn’t yet need a fresh push from the Fed to get it going....
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- Spring '11