Top Republicans urge Fed not to ease further

Reuters News
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Posted: Sep 20, 2011 6:24 PM
Top Republicans urge Fed not to ease further

WASHINGTON (Reuters) - Top Congressional Republicans on Tuesday took the unusual step of telling the Federal Reserve to refrain from further "intervention" in the economy on the eve of a policy decision by the U.S. central bank.

The group, which included the top two Republicans in both houses of Congress, said the Fed's policies have been ineffective at supporting economic expansion and boosting employment.

"It is not clear that the recent round of quantitative easing undertaken by the Federal Reserve has facilitated economic growth or reduced the unemployment rate," the group said in a letter to Fed Chairman Ben Bernanke.