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Ex-chief: Fed’s done all it can

The Federal Reserve has done all it can do to reduce unemploymentand needs to worry more about the risk of inflation from the stimulusit poured into the economy, former Fed Chairman Alan Greenspan saidyesterday.<p></p>

The Federal Reserve has done all it can do to reduce unemployment and needs to worry more about the risk of inflation from the stimulus it poured into the economy, former Fed Chairman Alan Greenspan said yesterday.

“I think the Fed has done an extraordinary job [to bolster employment]. I think they’ve gone to their limits, at this particular stage,” Greenspan said on NBC’s “Meet the Press.”

“You cannot ask a central bank to do more than it is capable of without very dire consequences,” Greenspan continued, saying the United States faced a serious long-term threat of inflation unless the Fed begins to pull back “all the stimulus it put into the economy.”

 
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