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BofA Merrill Lynch Global Research – A US Economics Report – Wednesday, 24 October 2012

Fed officials maintain current policy stance

At their October FOMC meeting Fed officials decided to make no significant changes to their policy statement, maintaining the pace of MBS purchases and the forward guidance language. Modest upgrades to part of the outlook did not change the assessment that “sufficient” policy accommodation would be needed to heal the labor market. In December we expect the Fed to announce additional purchases of Treasury securities and to introduce other refinements to its communication policy. Given our outlook for the economy, we anticipate the Fed could buy up to $2 trillion in additional assets over the next two years.



Read the full report here.