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FOMC: Further easing warranted "fairly soon"

August 23, 2012

US Federal Reserve policy makers signaled readiness to boost stimulus unless they are convinced the economy is poised to rebound, minutes of the 31 July/1 August meeting released yesterday in Washington showed. Many members of the Federal Open Market Committee said further action would probably be needed “fairly soon” without evidence of “substantial and sustainable” improvement in the recovery. Many participants at the Fed’s meeting said a new large-scale asset-purchase program “could provide additional support for the economic recovery,” according to the minutes.