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Have the Fed's Efforts Helped?

June 7, 2012 1 minute Read by Four Percent

David Wessel, Wall Street Journal After pushing short-term interest rates near zero in late 2008, the Federal Reserve decided it could do more. Unable to cut short rates further, it turned to buying huge amounts of long-term Treasury debt and mortgages to push down long-term rates. More than $2 trillion later, the U.S. economy is stuck with 8.2% unemployment and a still shaky recovery. So what has been learned about the efficacy of this experiment? The answer matters not only for judging the past, but for whether the Fed can and should do more now. Read More (Subscription Required)

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