The Federal Reserve wraps up a two-day meeting today and is expected to do something to try to prop up a sluggish U.S. economy, but there's no expert consensus about what action the Fed might take.
Some private economists believe the Fed will launch another
round of bond buying in an effort to spur more borrowing, spending
and economic growth.
The Fed could also extend Operation Twist, which expires this
month. Under Operation Twist, the Fed has been gradually selling
$400 billion in short-term Treasury securities since September and
using the proceeds to buy longer-term Treasurys.
At the very least, many economists believe the Fed will stress
its readiness to do more should the economy weaken further.
The Fed's statement will be followed by an updated economic
forecast from the central bank and then finally a news conference
by Fed Chairman Ben Bernanke.