Fed Leaning Toward More Action on Economy

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The Federal Reserve has indicated it may take more action to help the struggling economy.
    
Minutes from the Fed's Sept. 21 Open Market Committee meeting show some officials want to see how strong the economy is before deciding whether or not to act.

"In light of the considerable uncertainty about the current trajectory for the economy, some members saw merit in accumulating further information about reaching a decision about providing additional monetary stimulus," the minutes read.

"In addition, members wanted to consider further the most effective framework for calibrating and communicating any additional steps to provide such stimulus," the record read.     

"From the outside it might look like they're dithering," said Robert McTeer, a former president of the Federal Reserve Bank of Dallas, and a well-known "dove" on inflation. "Maybe they are, maybe they're not. They haven't done a very good job at communicating."

Still, many analysts believe the central bank will take action soon, saying it's only a question of how much more money the Fed will pump into the economy. They're looking to Fed Chairman Ben Bernanke's speech on Friday for guidance on what actions the Fed may take.

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