Barring an unexpected and swift economic rebound, the Federal Reserve is set to deliver another round of monetary stimulus—and it could happen “fairly soon,” according to the minutes from the U.S. central bank’s latest meeting. The minutes revealed that the Fed staff predicts inflation and interest rates to remain low in 2014, economic activity to pick up at only a gradual rate, and for unemployment to decline slowly. “Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial strengthening in the pace of the economic recovery,” the minutes said.
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