Official says Fed will pursue "every practicable means"

12/19/2008 | Reuters

Dallas Federal Reserve Bank President Richard Fisher said the central bank would do whatever it takes to put an end to the recession and keep financial markets running. "We will not shy from pursuing every practicable means of supporting the functioning of financial markets and stimulating the economy back to a steady state by employing new techniques that fit the current circumstance," Fisher said. "We stand ready to grow our balance sheet even more should conditions warrant. For example, we will expand purchases of mortgage-backed securities, should we feel such purchases would be productive."

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