Posted on 29 December 2012.
William Cohan, WP
In the short term, Washington lawmakers are understandably preoccupied with trying to avoid the "fiscal cliff."But the decisions that are likely to affect the economy's long-term health are happening not on Capitol Hill or at the White House, but at the Federal Reserve "” specifically, Chairman Ben Bernanke's policy of continuing to drive down long-term interest rates until unemployment hits 6.5 percent. This tactic, called quantitative easing, could remain in place for years. But is it helping the middle-class Americans who need it most?
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