Economists wonder whether economy still needs Fed's help

05/4/2009 | Wall Street Journal, The

As economic indicators signal that the steep dive is over and expansion is becoming a possibility, many are asking whether the economy is strong enough to be on its own or whether help from the Federal Reserve is still required. Some said it is too soon to take the Fed out of the equation. "It makes little sense to have put so much effort to engineer a mortgage-refinancing wave, only to abandon the effort when still at the beginning stages, by letting a bond sell-off undermine the refi process," said Mustafa Chowdhury of Deutsche Bank.

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