News Summary: Fed minutes hint at more action

AP News
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Posted: Aug 22, 2012 5:42 PM

FED ACTION: Minutes of the Federal Reserve's last policy meeting on July 31-Aug. 1 show that Fed officials spoke with increased urgency about the need to provide more help for a weak economy unless there was a significant rebound in growth.

POSSIBLE MOVES: The Fed did not specify what action it would take. But many economists said they were looking for the Fed to launch a third round of bond buying aimed at lowering long-term interest rates.

OPEN ENDED: Some economists said they expected the Fed would keep the next round of bond buying open-ended. Then the Fed could keep adding to the program until the economy improved.