The Federal Open Market Committee, which ended a two-day meeting on Thursday, said it was concerned that, without the action, “economic growth might not be strong enough to generate sustained improvement in labor market conditions.”Read text of statement.

http://stream.marketwatch.com/story/fomc-update-bernanke-on-...

Federal Reserve decision due 12:30 p.m. Thursday, followed by press conference

WASHINGTON (MarketWatch) — Fed watchers have little doubt the central bank is getting ready to launch what’s commonly called “QE3,” or a new large-scale asset purchase plan, but many think the countdown will be placed on hold until later this year.

“We don’t think the most likely outcome [in September] is going to be the announcement of another large scale asset-purchase plan. I am not convinced they are ready for it,” said Lewis Alexander, chief U.S. economist at Nomura Holdings.

“FOMC members continue to struggle with the appropriate structure for a future QE,” agreed Ward McCarthy, chief financial economist at Jefferies.