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Four Fed Presidents: Agree Limits of Mon Pol To Raise Growth
Even with differing views of the biggest challenge facing central banks in the post-crisis world - inflation or growth - a handful of regional Federal Reserve Bank presidents seemed to agree Thursday monetary policy can't solve either problem. "The challenge of our times now is becoming clear and that is growth," Atlanta Federal Reserve Bank President Dennis Lockhart said in on a panel at the Hoover Institution's annual monetary policy conference. "Every major economic zone in the world is struggling with growth in one way or another." St. Louis Fed's James Bullard focused more on inflation as top challenge. "Low ... (full story)