Former Obama aide urges more Fed stimulus
WASHINGTON (Reuters) - A former top White House economic aide said on Monday additional efforts by the Federal Reserve are necessary to support the slumping U.S. economic recovery.
"My own read of the evidence is that unconventional monetary policy, like quantitative easing, like an aggressive communications policy, like lowering interest rates that were paid on reserves, could absolutely be helpful and should absolutely be tried," said Christina Romer, who stepped down last month as chair of the White House Council of Economic Advisers.
Romer spoke on a panel organized by the University of Virginia's Miller Center for Public Affairs.
- Malaysian plane may have flown hours after losing contact: WSJ |
- Missing jet may have strayed to west, Malaysia military says |
- UPDATE 1-U.S. investigators suspect missing Malaysian plane flew for hours -WSJ
- Malaysia failing credibility test as flight confusion deepens
- White House tried to mediate dispute between Senate, CIA panel: source