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Cleveland Fed Forecasts Uncertainty for Nation’s Fiscal Future

The ""Federal Reserve Bank of Cleveland"":http://www.clevelandfed.org/ has released its spring forefront report addressing the budget shortfalls throughout the United States.

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Examining the risk that weakening public finances have on specific regions of the country, the Cleveland Fed is forecasting an uncertain future for the country's financial stability.

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In the Cleveland Fed's Forefront report, the bank evaluated bank capital requirements, tax system tradeoffs, cash futures, conversion rates for home vacancies to rentals, and conversion rates for community colleges as a ""bridge to business.""

Key findings from the study showed that several large pension funds believed to be near collapse are unlikely to do so, with the Cleveland Fed calling the potential for their demise ""improbable - though not impossible.""

The pension funds, which would deliver a shock to the broader financial system upon failure, appear more stable than previous reports have suggested.

Commenting on the latest Forefront results, Cleveland Fed president and CEO, Sandra Pianalto, took the opportunity to elaborate on her monetary policy views and current economic outlook. In summary, Pianalto stated that she seeks to maintain an ""open-minded"" position, rather than being labeled a ""dove"" or ""hawk.""

About Author: Abby Gregory

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