As the economy accelerates, not only lives and business sectors are affected but also the performance of different government agencies. The New York times reported that officials at the Federal Reserve tend to be timid in their work since they are being questioned regarding whether they are doing too much to speed up economic growth or doing too little which doesn’t help in promoting employment given the number of citizens left with no work due to the economic problems the country has been suffering for years.
Ironic as it may seem, these Federal Reserve officials whom the citizens trust and depend on too much to help them survive through this futile stage, think that they have been doing too much; well, in fact they have done too little for these people. Other factors are considered to affect the attempt to build up the economy such as higher oil prices, government layoffs, the tragedy in Japan, and the debt problems in Europe seem to make things worse as it already is.
Another factor people believe needs blaming is the unbalanced approach of the government to monetary policy. Some Federal Reserve officials worry too much and prepare themselves to the worst such as the 1970s inflation’s return, thus spending more time on big bank executives and investors whom they believe have a lot to lose from high price increases than unemployment. In the past months, a regional Federal Reserve official gave warnings that helped bring an early end to last year’s Fed attempts to reduce the interest rates that has been disrupting stability and growth of the country’s economy. Due to the havoc that this had made, Federal officials are now aware of the changes and improvement that they have to make and true as it is, since the situation has been more complicated, the economic reports have been encouraging.
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