FOXNews.com: Atlanta Fed president says Fed may need to take action if US economy weakens further

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Atlanta Fed president says Fed may need to take action if US economy weakens further Jun 6th 2012, 17:31 WASHINGTON –  A voting member of the Federal Reserve's policy committee says the Fed may need to consider more action if the economy weakens further. Dennis Lockhart, president of the Fed's Atlanta regional bank, says dismal job growth in May and April highlighted the problems facing the "halting and tenuous" recovery. He said in a speech Wednesday in Florida that if conditions continue to deteriorate, "further monetary actions to support the recovery will certainly need to be considered." Lockhart did not specify what measures should be considered. But many investors hope the Fed will continue buying bonds in an effort to drive long-term interest rates down. Federal Reserve Chairman Ben Bernanke could provide further insight to such actions Thursday when he testifies before a congressional committee.

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