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Speaking at Winona State University, Minneapolis Fed President Gary Stern (voter) said the top issue for policy-makers is the "too big to fail" problem. "Recent events have been unprecedented. I'm skeptical of claims that the Federal Reserve or anyone else should have foreseen the...
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Echoing comments made earlier in the week, Minneapolis Fed President Gary Stern said the U.S. government's bailout plan may create instability in the future. Delivering remarks on "The Repercussions from the Financial Shock" at an event organized by the National Investor Relations Institute...
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Federal Reserve Bank of Minneapolis President Gary Stern said Wednesday that now is not an "appropriate time" to close government-sponsored Enterprises Fannie Mae and Freddie Mac . Speaking on Bloomberg Television, Stern said it is "important" for Fannie and Freddie to function and that they should be...
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The current economic turmoil is comparable to the early 1990s , which can be a valuable guide to understanding what's next as the U.S. economy seeks to rebound into healthy growth, according to one Fed official on Thursday. Minneapolis Fed President Gary Stern , a voter on the FOMC who is known to tilt...
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Speaking in an interview with CNBC, Minneapolis Federal Reserve President Gary Stern (voter) said the outlook on core and headline inflation has improved. Stern commented that the current drop in energy prices has alleviated inflation concerns. He added that it would be "some time before we see some...
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Minneapolis Fed President Gary Stern said on Wednesday that inflation expectations will be determined by how the Federal Reserve raises rates. Speaking to the Wisconsin Chamber of Commerce, Stern said the Fed is "highly sensitive" to the threat of higher prices, but that inflation expectations are reasonably...