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Fed takes limited action, disappoints many in recent meeting

George Chamberlin, SAN DIEGO DAILY TRANSCRIPT

Saturday, June 23, 2012

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"The ultra-low interest rates induced by the Fed have served to artificially perpetuate unsustainable economic growth," said economist Kelly Cunningham of the San Diego-based National University System Institute for Policy Research. "We continue to have an economy based on too little savings and production, and too much borrowing and consumption. Government bailouts and efforts to subsidize targeted industry sectors meant less available for more productive sectors now."