Fed Officials Lay Groundwork for Further Steps This Month

Federal Reserve policy makers are laying the groundwork for further action at this month’s meeting, warning that U.S. economic growth could stall, producing lasting stagnation in the job market.

Federal Reserve Bank of Chicago President Charles Evans said yesterday the Fed should consider adding “very significant amounts of policy accommodation” and attacked the notion it should abide by a 2 percent ceiling on inflation. San Francisco Fed chief John Williams cited “a number of steps” that could be taken to support growth, without offering specifics.