Economic Policy Journal
June 15, 2010

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Editor’s note: How can the Federal Reserve be worried about something it helped create?

The Federal Reserve appears to have serious concerns that the economy is heading into a double dip recession. That’s the only way to read a report coming from WSJ reporter Jon Hilsenrath.

Couched in the conservative, hedging style of the Federal Reserve, Hilsenrath’s column is really a five alarm fire bell. Hilsenrath does not quote anyone by name and merely refers to “Fed officials”, but this type of story does not come out without a strong source.

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