Fed officials a little more hopeful about the economy

No change in the easy-credit policies, with the Federal Reserve's Open Market Committee citing an economy that's "strengthened somewhat in the third quarter." But there's continued gloom about the job market, with the central bank noting "significant downside risks to the economic outlook." Translation: All behinds are being covered. From the NYT:

Fed officials have been careful to say that they remain willing to expand the central bank's massive investment portfolio if economic conditions deteriorate. The statement repeated the Fed's boilerplate promise that it "is prepared to employ its tools to promote a stronger economic recovery in a context of price stability." But this meeting was more of a test of what the Fed was willing to do when the economy is merely muddling. The answer is nothing new.

Stocks are off their earlier highs, but the Dow is still up over 100 points.