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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