FOMC maintains its policy stance as economic activity is levelling out

The FOMC opted to keep its game plan unchanged. As expected, the Committee left its target rate in the 0 to 0.25% range. Although some market participants had argued for an extension of Fed treasury purchases, the FOMC opted to stick to its original plan to spend only what had been previously committed ($300 billion) and to end the program by the end of October. As in previous press releases, the Fed did leave the door open to further purchases of securities should economic/financial