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US Federal Reserve Ponders Strategy to Unfreeze Cr
Date: 3/18/2009 8:19:56 AM Sender: VOA News
US Federal Reserve Ponders Strategy to Unfreeze Credit  
By VOA News
18 March 2009

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Federal Reserve Board Chairman Ben Bernanke  (File photo)

Top officials of the U.S. Federal Reserve (central bank) are meeting Wednesday to consider more ways to boost the struggling U.S. economy.

Some economists speculate that effort will include a program of buying long-term U.S. Treasury bonds, intended to ease borrowing costs for consumers and businesses.

The credit market is a key to economic growth, but it stalled when the U.S. housing market collapsed.  

The Federal Reserve is also expected to keep a key interest rate target at its current historically low level (a range of 0 - 0.25 percent).  

Officials have some new data to consider as a report Wednesday shows U.S. consumer prices rose at the fastest rate since last July.  February＇s four-tenths of a percent increase was driven by higher prices for gasoline and clothing.

A separate study of U.S. trade shows the gap between what Americans export and what they buy from foreign countries has narrowed.  The current account deficit fell to just under $133 billion in the last few months of 2008.

Also Wednesday, U.S. President Barack Obama starts a two-day trip to California to gain support for his economic policies.  

Mr. Obama has challenged critics of his budget proposals to offer constructive alternatives, saying the nation needs good ideas rather than political bickering.

The president＇s $3.6 trillion budget has been attacked by opposition Republicans for raising the federal deficit by spending and borrowing.


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