Federal Open Market Committee Pledges Monetary Easing Through 2013 If Required

About what one might have expected.

No specific action at this time, but reassurances that the Fed recognizes the downturn in the economy, with fresh evidence of this since their last meeting in June, and higher risks to recovery through lack of confidence in financial assets, and slack employment and spending by consumers.

In a very real sense the Fed is attempting to bridge the gap between