Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
Minutes of the Fed’s discussions at their Aug. 10 meeting show the central bank recognized that the economy could need further stimulus beyond the debt purchases. Those are intended to lower interest rates on a range of consumer loans.
The minutes did not spell out what new steps might be taken. But they do indicate that the officials focused attention on the modest move the Fed did take at its August meeting to invest the proceeds from its huge mortgage bond portfolio in Treasury securities.
House halts plans to shred records
AUSTIN | At the request of prosecutors, Texas House officials are halting plans to shred travel vouchers and receipts submitted by state legislators in 2005.
Travis County District Attorney Rosemary Lehmberg is reviewing taxpayer reimbursements collected by a north Texas lawmaker. She asked House officials to preserve records that were headed for the shredders on Wednesday as a new fiscal year begins.
The House only keeps five years’ worth of travel records, but officials are keeping them all now that a criminal probe is under way.
State Rep. Joe Driver, a Republican, admitted in a recent interview with the Associated Press that for years he has been collecting reimbursements from taxpayers for travel that he had already paid for using campaign money.
• From wire dispatches and staff reports
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