Fed probably won't act as soon as next week

The intensifying crisis in the euro-zone coupled with signs that the US economic recovery is faltering have led to speculation that the Fed will provide more monetary stimulus at the next two-day FOMC meeting, which concludes on Wednesday 20th June. Fed Chairman Ben Bernanke appeared to play down the need for more action last week, however, arguing that the extent of the US slowdown may have been "exaggerated" and that economic growth would "continue at a moderate pace".