"The Fed is thinking of structuring this not as a fixed quantity but as a more open- ended plan"
- Michael Hanson, a former economist at the Fed board in Washington
U.S. import prices climbed for the first time in five months in August, as fuel prices jumped 4.1%. The prices for U.S. imports rose by a seasonally adjusted 0.7% in August, below expectations for a 1.4% increase, said the U.S. Bureau of Labor Statistics on Wednesday.
Separately, the Fed is likely to announce another round of quantitative easing on Thursday, to boost the world's biggest economy.
"One reason for waiting would be if the Fed is thinking of structuring this not as a fixed quantity but as a more open- ended plan, but they don't have the details together yet and don't have consensus on how to do that," said Michael Hanson, a former economist at the Fed board in Washington.
The Standard & Poor's 500 edged higher 0.21 per cent to 1,436.56. The Dow Jones Industrial Average added 0.07 per cent to 13,333.35. The Nasdaq Composite climbed 0.32 per cent to 3,114.31.
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