The Fed can print but it can't force banks to lend or consumers to spend. That is one of the battles the Fed faces in its efforts to reflate.

Frugality is now etched in stone as Americans Plan to Limit Spending on Recovery Concern.

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tvsterling at 12:22 2009-09-19 said:
The FED is a one trick pony. Diddling the interest rates is all it really has & it's already played that card. Quantitative easing is a Japanese import & all it ever did was poison their economy for a decade. I see no reason to change my attitude from gloom & doom. Permalink

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