“A few” members said more stimulus probably needed. Several more said they’d be for more action if the economy worsens. That’s where the market is, with the “some” who think additional weakness is needed to trigger QE.
New tools need study, some said.
China was singled out for commentary, with a possible significant slowdown feared.
If you were looking for the green light for QE3, you are disappointed. Risk is coming off.