Wall Street: Fed Action Likely

    NEW YORK, NY - JULY 06: Traders work on the floor of the New York Stock Exchange on July 6, 2012 in New York City. The Labor Department's jobs report, which showed that the economy added just 80,000 jobs in June, sent stocks lower with the The Dow Jones industrial average closing down 124 points, or 1%. (Photo by Spencer Platt/Getty Images)

    Spencer Platt / Getty Images

    Economists have criticized Fed chairman Ben Bernanke for failing to take action on employment, but the poll shows that a majority on Wall Street believe he is about to do so. A Reuters poll of Wall Street economists shows the chances of the Federal Reserve launching a new round of monetary stimulus to boost growth has increased after another month of disappointing job growth in the U.S. The poll was taken Friday after the government reported that only 80,000 jobs were added in June, a number short of market predictions. Forecasts from financial institutions that do business with the Fed showed a 70 percent chance of a third round of large-scale bond purchases.

    Read it at Reuters