Lehman Brothers US Federal Reserve policymakers said on Wednesday that “economic activity is levelling out” and gave no indication that they would step up emergency measures adopted to stimulate the flow of credit.
The Fed said that it “anticipates” completing its planned $300bn Treasury purchases by October – a month later than expected – but there was no echo of the Bank of England’s decision last week to expand its government debt-buying programme. The plans are a way to ease monetary policy even when interest rates are close to zero.
