Paul Krugman: Paralysis at the Federal Reserve

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The Fed -- which is required by statute to promote "maximum employment" -- isn't doing its job. Instead, like the rest of Washington, it's inventing reasons to dither in the face of mass unemployment. And while the Fed sits there in its self-inflicted paralysis, millions of Americans are losing their jobs, their homes and their hopes for the future.

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At www.nytimes.com

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