The Fed's monetary policy was not changed at the Federal Open Market Committee meeting although the panel noted "economic activity decelerated somewhat" in the first half of 2012, according to the policy statement released after the meeting Wednesday.

The statement said the FOMC "will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.