It looks as if the Federal Reserve is crawling out of the frying pan and into the fire. Under heavy pres -sure from the credit markets, the central bank has been scrambling to ease liquidity strains. So far, those actions are showing good results. Now, though, with recession starting to look ever more likely, the heat under policymakers is coming not just from Wall Street but from Main Street and Capitol Hill. The Fed now faces one very pointed question: Have its efforts to protect the economy from the credit turmoil that flared up last August been too little, too late?
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