Wall Street: Fed Action Likely

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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.