According to the Wall Street Journal's website report, the US Federal Reserve officials - at their scheduled meeting on June 23 and June 24 - would probably not consider a substantial increase in its purchases of US Treasuries and mortgage-backed securities.

The paper said that the Fed, which has thus far bought $156.5 billion of government bonds, has pledged to purchase $300 billion of long-term Treasury securities by autumn and $1.45 trillion of mortgage debt by this year's end.

However, the report says that the officials might make other adjustments, largely because of rising bond yields and newer signs of a turnaround in the economy. The Fed's bond-purchase programs are designed to drive up Treasury prices and push down interest rates across the economy. The bond and mortgage-debt purchases have been at the center of the government's efforts to jump-start economic activity.

While most Fed officials feel they have alleviated the economy, setting the stage for revival; fractions within the Fed have brewed on the question of whether to escalate the healing, recess, or start retracting to avert an inflationary outburst. Moreover, several officials opine that despite a resumption of growth, the economy will still necessitate additional stimulus from the central bank.

The diverse undercurrents within the Fed would probably bring about valiant new strokes by the officials at its forthcoming meeting!