(MENAFN) Three Federal Reserve voting members said that they would support the Federal Reserve granting more stimulus packages if the economy weakens, reported AP.
The voting members supporting more stimulus if the economy worsens are the vice chairman of the Fed, Janet Yellen, the president of the Fed's Atlanta regional bank, Dennis Lockhart, and the president of San Francisco's regional bank, John Williams.
Although Yellen acknowledged that the Fed could buy more bonds, or lower long-term interest rates, or encourage lending, they would have limited effect on the economy. Yellen noted that regardless, a more money friendly policy for some time is necessary to getting the economy back on its feet again.
Both Yellen and Lockhart have said that the housing crisis is the anchor dragging down the economy and that without the real estate and construction markets picking up a stimulus plan to improve that sector thus improving the economy would have to be considered.