Last Friday's strong jobs report for February and the revisions to December and January (producing nearly 290,000 new jobs in total) will mean the US Federal Reserve sits on its hands for another six weeks at least.

Talk of further easings is fading in the wake of the solid jobs report, for the third month in a row.

It will make the Fed remain on the sidelines while it sorts out a view about the economy that can accommodate its scepticism about this jobs 'boom', as expressed earlier this month by chairman Ben Bernanke in testimony to Congress.

Mr Bernanke's testimony to Congress in early March also saw him seemingly downplay more quantitative easing. And while he stressed some positive developments in the labour market, he indicated the Fed was not wholly convinced that the jobs rebound are as strong as it looks, or will be long lasting.

But that was before the February report last Friday and the settlement, for now, of the bailout of Greece.

So watch for the wording in the Fed post meeting statement: where it talks about the Federal Funds Rate being on hold until the year after next.

"The Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014,'' said the post meeting statement issued after the late January meeting.

The target year is a first and follows a new way of forecasting that started with the January meeting of the Open Markets Committee.

If there is to be any change of note in the post meeting statement Wednesday morning, our time, it could come in this timing.

But most US economists discount any significant change and say it will probably be the two-day meeting on April 24 and 25 that sees changes, especially if March produces a flood of solid data, led by another big month for jobs.

Another key meeting could be the one timed for June, right before the Fed's existing $US400 billion program, called Operation Twist, ends. No move to replace it will be a statement in itself.

(Operation Twist has seen the Fed replacing shorter-term Treasury notes and bonds in its balance sheet with longer-term debt.)

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