The Federal Open Market Committee (FOMC) issued a statement on Tuesday that keeps monetary policy essentially unchanged for the present. And The New York Times Economix blog excerpts economists' and commentators' reactions this morning. The "Fed seems to be resigned to a wait and see approach that accepts a slow, plodding, agonizing recovery for the unemployed," says University of Oregon economist Mark Thoma. Barclays Capital's Michael Gapen writes, "The lack of any direct reference to unemployment may signal that the FOMC sees the structural issues plaguing labor markets as something monetary policy is not well equipped to address." And The New York Times' Paul Krugman adds, "[B]ased on what we know about prolonged periods of economic weakness, the market is probably too optimistic."
this was an excerpt from Architect newswire (http://http://www.architectmagazine.com/) and sourced from the New York Times (http://http://economix.blogs.nytimes.com/2010/09/21/economists-reactions-to-fed-statement/?dbk)
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