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Economic Policy & Recovery Fears

The Federal Reserve weighs in big to support recovery. We look at what it means for the U.S. economy.

U.S. Treasury Secretary Timothy Geithner, right, talks with Federal Reserve Chairman Ben Bernanke, Oct. 22, 2010. (AP)

The day after Republicans took the House, the Federal Reserve Bank stepped up yesterday to pump the juice into the economy that Congress now certainly won’t.

They call it “QE2” – and it doesn’t mean a cruise liner.  It’s called “quantitative easing,” and it’s a boatload of money to be, in effect, printed by the Fed to try to spur a recovery that’s just barely gurgling along.

Fed Chair Ben Bernanke says he’s got to do something. There are risks: inflation, and trade war. But just maybe this will be the gas to get the economy off the ground.

-Tom Ashbrook

Guests:

Sewell Chan, Washington-based economics reporter for the New York Times.

Jeremy Siegel, professor of finance at the University of Pennsylvania’s Wharton School of Business, and author of “The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New” and “Stocks for the Long Run.”

John Taylor, professor of economics at Stanford University and a senior fellow at the Hoover Institution. He was Under Secretary of the Treasury for International Affairs under President George W. Bush from 2001 to 2005 and served on the President’s Council of Economic Advisors during the Ford and George H.W. Bush administrations. He was an economic advisor to John McCain during the presidential campaign.

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