Many Federal Reserve policy-makers are apparently ready to ease monetary policy "before long" to stimulate inflation and lift the struggling U.S. economy, according to minutes taken during the Fed’s September 21 session of the Federal Open Market Committee (FOMC).
The FOMC’s official statement last month noted that inflation was "somewhat below" desired levels. The minutes from the meeting elaborate and provide background:
"Several members noted that unless the pace of economic recovery strengthened or underlying inflation moved back toward a level consistent with the Committee’s mandate, they would consider it appropriate to take action soon."
Continue reading Fed Ready to Boost US Inflation, FOMC Minutes Indicate