Throughoutthe FOMC Meeting Minutes the Feds decided to keep the near-term interest rates unchanged between 0.00% and 0.25 %, as highly forecasted, as the Fed announced agreed on Sequence of steps for existing monetary stimulus represented in purchasing of $600 billion of longer-term Treasury securities of QE2.

The Feds saw economic growth have lost some pace during the past period along with clear signs of the labor market weakness while that the current considerable increases in prices of crude oil and other commodities pushed up headline inflation knowing that it is seen as a temporary factor as prices pressures are forecasted to stay subdued on a longer term.

Furthermore, the Feds signaled the country's consumer spending have quite decelerated in the past few months after expanding moderately in the first quarter of 2012, while housing markets is still deteriorated as overall housing activities are hampered by the ongoing economic weaknes.