WASHINGTON — The odds surely increased Friday that the Federal Reserve will ride again to the rescue of the faltering economic recovery, making borrowing a little cheaper for a little longer, as it has done repeatedly over the last four years.
But the government’s announcement that employers added only 69,000 workers in May also highlights a less comfortable reality: The economy seems unable to wean itself from dependence on the Fed’s flow of aid. It keeps coming back for more.
What began as a one-time jolt in 2008, an unprecedented effort to revive economic activity, has become an uncomfortable status quo, an enduring reality in which savers are punished and borrowers rewarded by a permafrost of low interest rates.
And the Fed, acutely uneasy with this new role in the American economy, may now find itself unable to avoid doubling down.
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