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Fed Officials Say More QE May Lack Punch, Fiscal Aid Needed

  • Dallas Fed’s Kaplan sees slower recovery without more stimulus
  • Boston Fed chief Rosengren calls lack of more aid ‘tragic’
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WATCH: Kaplan discusses the economy, the disagreements between the Republicans and the Democrats over a stimulus package, and the Fed's asset purchases. (Source: Bloomberg)
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Federal Reserve officials kept up pressure for Washington to renew fiscal support for the virus-ravaged economy even as hopes of a deal between Democrats and Republicans continued to look dim.

Without additional fiscal relief, the recovery will likely be a lot weaker, Dallas Fed President Robert Kaplan said in a Bloomberg Television interview with Kathleen Hays Thursday. He said the Fed likely won’t increase large-scale asset purchases right now as it wouldn’t do much to help the real economy.