Feds: More stimulus, please, if economy stays weak
There is no question that the transportation construction industry has benefited from the American Reinvestment and Recovery Act (ARRA), a.ka. “the stimulus,” but whether the stimulus was a good idea in the first place has been hotly debated.
However, Federal Reserve officials have said that we may need to pump ever more cash into the economy.
In a Reuters report, two Fed policymakers said that more action would likely be needed unless the current economic outlook improves.
William Dudley, president of the Federal Reserve Bank of New York, described current conditions of high unemployment and low inflation as “unacceptable” while Chicago Federal Reserve Bank President Charles Evans said more easing was “desirable,” according to the Reuters report.
From our partners
Sandvik Construction launches the newly developed CH540 cone crusher - the latest…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- PHOTOS: Caterpillar unveils new 3-tower HQ campus spanning 6 city blocks in Peoria (VIDEO)1650 Views
- Quarry worker safety is a big deal in the U.S., but not everywhere in the world262 Views
- Opportunities for worker recruitment and retention193 Views
- Caterpillar “Built For It” Trials video: Cat generator powers Lantern Festival in China’s Yuhu Village145 Views
- Minnesota county considers a frac-sand mining ban132 Views