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The Fed steers clear of easing

The Fed steers clear of easing
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The Federal Reserve has made no changes to its basic monetary policy following a one-day meeting.

the central bank does say it’s ready to provide additional support to bolster recovery, suggesting it may be preparing to do more to keep unemployment from rising and prices from falling in the US. There is no move on interest rates.

The cautious approach did not seem to please Wall Street which had been hoping for a more optimistic statement.

It had possibly hoped to see the Fed pump more dollars into the economy after flat consumer prices in August.

But the job market was slightly stronger last month and businesses added more to inventories than forecast.

And housing market data for August was the best in four months, offering a strong sign that all is not lost.