The New York Times (October 16)
Fearing deflation, the Federal Reserve appears poised to adopt quantitative easing measures. The Fed is widely expected to print new money and buy Treasury bonds, hence increasing the money supply. The Fed can’t, however, succeed alone. The New York Times calls on President Obama and Congress to adopt new stimulus measures to kick start the economy. “To put millions of Americans back to work, a lot more needs to be done. Mr. Bernanke can’t do it alone.”
The Guardian (October 14)
The British Government announced a plan to eliminate, merge or downgrade many of the existing quasi-autonomous non-governmental organizations (quangos). Under the plan, 192 quangos would be abolished, 118 merged and 171 reformed. In total, the 901 existing quangos would be reduced to 648. The plan aims to move responsibility for decision-making back to elected policy makers, but the Guardian points out “scrapping key agencies in health, justice and consumer rights has raised alarm.”
Tags: Britain, Government, Quangos