Fed Sees Both Benefits and Risks in New Moves

WASHINGTON — The argument for the Federal Reserve to introduce another round of stimulus, and its reasons for hesitation, can both be summarized by a single number: 3.53 percent, the average interest rate last week on a 30-year mortgage.

The cost of mortgages and other kinds of loans remain well above zero, a chief reason that many Fed officials are confident the central bank still has some power to increase the pace of economic growth by continuing to reduce interest rates.  Read more

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