What should the Federal Reserve Board do about the economy today?

Question

In your opinion, with the stuff you know about economics, how can the federal reserve board help the economy?

Answer 1

Definitely raise interest rates, thereby encouraging people to SAVE and discouraging people from BORROWING ! since it's the latter that's caused the problems [ people buying with money they don't have !! ].

Answer 2

Legalize competing currencies, then shift to a market controlled interest rate, and finally name gold and silver as the only baking to our currency. Then board up the doors and burn that building down.

Answer 3

lower interest rates, lower the reserve requirement, raise the discount rate.  Lower, lower, raise...I think that's right.

Answer 4

Cut the money supply and hike interest rates.

Answer 5

I think it is time Americans quit looking to the government for help. If people would QUIT BUYING THINGS especially using CREDIT and BANKS WOULD QUIT SELLING LOANS TO PEOPLE WHO CANNOT AFFORD TO PAY THEM BACK and people started living within their means overall and started saving, when hard times hit they would not have it so bad. It's called tough love when parents do it and the government needs to do the same-especially with banks and mortgage companies who knew better and did it anyhow and quit bailing them out with your great grandchildren's taxes.

Answer 6

Raise interest rates.  Interest rates being lowered have only caused some more problems.  They did it because they wanted to avoid crash.  Now that a depression/crash won't occur, they have to deal with the consequence of lowered interest rates.  Its inflation...they may need to raise rates to fight it..but they should only raise it a little- raising too much will further our economic staleness (slowness) and make things worse.