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Steve Forbes: How The Fed Can Save Economy

Steve Forbes offered CNBC his insights into the markets, the economy — and what the government is doing wrong.

"There certainly seems to be a bottoming out" in equities and other markets, Forbes said.

"But the key thing is getting the credit markets truly working again," he cautioned.

Without credit improvement, no real and sustainable recovery can happen, he told CNBC's Maria Bartiromo.

"It you're prime credit, double-A, triple-A, those handful [of entities], you're able to borrow in this market. But others are still having a real hard time."

What must the government do — if anything?

"The Federal Reserve should be pumping out a lot more liquidity, most especially in the mortgage market," the president and CEO of Forbes, Inc. declared.

He believes the Obama administration must create an environment of eased regulations and lower-capital gains taxes that would spur investors to "aggressively buy" mortgage-backed securities.

(For more of Forbes' outlook, watch the interview, above.)

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