Exclusive: Fed planning for potential default

Started by Reuters, Jul 21, 2011, 03:02 AM

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Reuters

Jul 21, 2011, 03:02 AM
PHILADELPHIA (Reuters) - The Federal Reserve is actively preparing for the possibility that the United States could default as a deadline for raising the government's $14.3 trillion borrowing limit looms, a top Fed policymaker said on Wednesday.

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