Fed Prepares Ground for Possible Easing as Officials Debate Stimulus Moves
Federal Reserve policy makers debated ways to invigorate the recovery and hiring this month, potentially laying the groundwork for fresh action at their next gathering in late September. Minutes of their closed-door meeting released yesterday in Washington showed that a few members of the Federal Open Market Committee favored a “more substantial move” at the Aug. 9 meeting beyond the pledge adopted by the panel to hold rates at record lows for the next two years.Fed officials this month discussed a range of tools, including buying more government bonds and lengthening the average maturity in its portfolio, without coming to an agreement on what they might do should the economy weaken further.While Fed policy makers meeting this month didn’t anticipate a recession, several said the recovery was “still somewhat tentative” and was “vulnerable to adverse shocks.”
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