Economists give Fed credit for rescuing economy

03/11/2010 | Wall Street Journal, The

A Wall Street Journal forecasting survey of economists found that the Federal Reserve's role in rescuing the economy was key, although the $787 billion stimulus also helped. "A much worse result would have occurred if nothing had been done," said Allen Sinai of Decision Economics. But "the absence of monetary-policy easing [by the Fed] would have resulted in a much worse economy than the absence of the fiscal-policy stimulus."

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