Fed voices re­newed con­cerns on re­cov­ery, readi­ness for fixes

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE -

Fed­eral Re­serve of­fi­cials cut their fore­casts for growth this year and sig­naled they stood ready to take new steps to keep the re­cov­ery alive if the econ­omy wors­ens.

Min­utes from the cen­tral bank’s meet­ing last month, re­leased Wed­nes­day, re­vealed a more cau­tious mood among the Fed pol­i­cy­mak­ers in light of Europe’s debt cri­sis, a volatile Wall Street, a stalled hous­ing mar­ket and high un­em­ploy­ment.

With risks grow­ing, Fed of­fi­cials at their meet­ing on June 22 and 23 saw the need to ex­plore new op­tions for bol­ster­ing the econ­omy. That’s a turn­around from ear­lier this year when they were mov­ing to wind down cri­sis-era sup­ports.

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