FT.COM
The US Federal Reserve kept policy on hold at its August meeting but showed a strong bias towards further action to support the economy.
The rate-setting Federal Open Market Committee continued to forecast that it would keep interest rates low until late 2014, dashing market hopes that it might extend that date into 2015.
The Fed also held off an further round of quantitative easing – or QE3 – under which it would buy more securities in an effort to drive down long-term interest rates. But it issued a powerful statement of its willingness to do more if the economy disappoints
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