Senior Fed staff consider further stimulus

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Senior staff members at the Federal Reserve have endorsed a "highly accommodative" policy stance and suggested that a lower unemployment threshold could boost the economic recovery, in two high-profile papers being presented at the International Monetary Fund (IMF) annual research conference today and tomorrow.

In one paper, David Wilcox, the Fed's director of research and statistics, argues that the level of economic slack in the US economy "has been and remains quite high", and attributes "muc

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