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When I read this headline at the Washington Post:

Federal Reserve weighs steps to offset slowdown in economic recovery

I was encouraged. Hey, at least someone is thinking about doing something. But then I read further into the article and saw phrases like “modest steps” and “not imminent.” As it turns out, the ideas under consideration are modest indeed:

One pro-growth strategy would be to strengthen language in Fed policy statements that the central bank’s interest rate target is likely to remain “exceptionally low” for an “extended period.” The policymakers could change that wording to effectively commit to keeping rates near zero for even longer than investors now expect.

They might strengthen the language in their policy statements! That oughta do it! In fairness, there are a couple of other ideas under consideration that are a bit more concrete, but not, unfortunately, much more ambitious. For now, anyway, it looks like no one thinks the economy is in bad enough shape to actually bother doing anything about it.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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