Can Washington Boost the Economy?

Now that the Fed has used up all its ammunition, any further stimulus will be in Congress' hands.

The job of bolstering the United States' sluggish economy is now squarely in Congress’ court. The Federal Reserve recently moved to resume buying Treasury bonds in an attempt to spur economic growth, largely because the central bankers have no confidence that current fiscal policy will do the job. But its latest move is unlikely to have much impact either. And it depletes the Fed's arsenal -- there's little left that the central bank can do.

SEE ALSO: Hazards Ahead for the Economy

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Art Pine
Contributing Editor, The Kiplinger Letter