As Fed eases loan aid, policy challenges arise

The New York Times: ARLINGTON, Va. — The Federal Reserve has terminated nearly all of the extraordinary lending programs it created in 2007 and 2008 to combat the credit crisis. But it now faces critical decisions in coming months about when and how to tighten monetary policy, according to two Fed officials.

The officials — Brian P. Sack, the executive vice president who oversees the trading desk at Federal Reserve Bank of New York, and Charles L. Evans, president of the Chicago Fed — spoke this week at an economic policy conference here sponsored by the National Association for Business Economics. Read Article

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