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Fed Needs to Pump Trillions More Into Economy: Analyst

By Implode-Explode Heavy Industries

``The Federal Reserve needs to pump at least $6 trillion to $7 trillion more into the U.S. economy to have any meaningful impact on sluggish growth, former Bush economic adviser Marc Sumerlin told CNBC... [he] also said that the U.S. would fall back into a recession if the Bush tax cuts aren't extended beyond this year... ?To get someone who was part of the former economic council saying the Fed will need to step up big and do $6 trillion in (asset purchases), was a bit of a shock and created a bit of nervousness,? Marc Pado, market strategist at Cantor Fitzgerald, told CNBC.com.''

Full post as published by Mortgage Lender Implode-o-Meter on October 11, 2010 (boomark / email).