The U.S. is still struggling with historically high unemployment, plus inflation is below the Federal Reserve's target and there is a great risk of deflation. However, the central bank is not talking about these challenges, much less acting on them, according to The Economist. "The August [Federal Open Market Committee] meeting is less than two weeks away," the magazine notes. "Hopefully, by that time, members will have fallen into line behind some kind of additional action."

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