After Friday's weaker than expected monthly jobs report, hopes are high for the Federal Reserve to take additional policy action at its two-day meeting, which culminates Thursday and is topped off with a press conference by Chairman Ben Bernanke.
Republican presidential candidate Mitt Romney's economic adviser Glenn Hubbard joined The Daily Ticker to preview the outcome of the meeting.
"It is likely the Fed will take some action," says Hubbard, who is also Dean of Columbia's Business School and the former chairman of President George W. Bush's Council of Economic Advisers. He points to Bernanke's Jackson Hole speech in late August where the chairman said:
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"As we assess the benefits and costs of alternative policy approaches, though, we must not lose sight of the daunting economic challenges that confront our nation. The stagnation of the labor market in particular is a grave concern not only because of the enormous suffering and waste of human