Many investors believe that paves the way for accelerated and more aggressive stimulus measures.
The statement said George remained concern that the Fed's aggressive stimulus could heighten the risk of inflation and financial instability.
Asian markets were mostly higher on the back of hopes for more aggressive stimulus out of Japan and strong data out of China.
Speaking at a news conference, Chairman Ben Bernanke stressed that while the economy has improved, the Fed won't ease its aggressive stimulus policies until it's convinced the economic gains can be sustained.
The growth number, combined with a disappointing read from weekly jobless claims, which rose to 354, 000, comes in the midst of a debate over when and how the Federal Reserve will back off its aggressive stimulus efforts.
The Japanese patient needs both structural reform and aggressive monetary stimulus, and it needs them now.
It's also highly different from any other recession in that we already had a pipeline of the most aggressive fed stimulus in history working for us, and fiscal stimulus.
Japan launched an aggressive monetary stimulus plan earlier Thursday.
Despite the ECB's commitment to bankroll ailing eurozone nations who request a full sovereign bailout by buying up government bonds, it has so far resisted the temptation to implement aggressive monetary stimulus.
The Bank of Japan overnight joined the crowd of central banks further easing their monetary policies, as the BOJ announced an aggressive monetary stimulus program amid what it says is a global economic slowdown.
The Bank of Japan joined the crowd of central banks further easing their monetary policies, as the BOJ Wednesday announced an aggressive monetary stimulus program amid what it says is a global economic slowdown.
The bulls were relieved there were no hints in the report that the U.S. central bank might be putting the brakes on its present path of aggressive monetary policy stimulus.
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Across the region, aggressive fiscal and monetary stimulus has helped revive domestic demand.
The IMF notes that countries that responded to past crises with aggressive monetary and fiscal stimulus, structural reforms and rapid repair of their financial systems limited the loss of potential.
The inflexible way in which the European Central Bank (ECB) runs monetary policy means interest rates have, so far, provided much less of an economic stimulus than the aggressive rate cuts made by the Federal Reserve, America's central bank, since January 2001.
Mr Abe has also called upon the central bank to boost its stimulus measures and undertake aggressive monetary easing to spur economic growth.
Economists say markets will judge the data released Friday as an indication of Prime Minister Shinzo Abe's progress in firing up growth in the world's third-largest economy with economic stimulus and a more aggressive central bank.
Japan, unlike nearly every other major economy, did not embark on an aggressive, currency-debasing monetary or fiscal stimulus program during or after the global economic crisis.
The improvement is also the expected response to monetary and fiscal stimulus, both of which have been exceptionally aggressive.
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