Most economists doubt further Fed intervention (by Jeffry Bartash)

WASHINGTON (MarketWatch) - The Federal Reserve is unlikely to take any major steps to help the U.S. grow this year, according to a survey of economists. The Wall Street Journal on Wednesday said 36 of 51 economists polled - 71% - believe the central bank will refrain from further action, such as another big buyback of bonds. The prevailing view among economists is that the U.S. will continue to grow at a modest pace in 2012, negating the need for the Fed to act. The central bank has already held short-term interest rates at zero for more than three years. Long-term rates are also extremely low. Yet most economists believe the Fed will start to raise short-term rates within the next year or so. By the end of 2012, economists also project the U.S. unemployment rate to fall slightly below 8.0%. Monthly job growth is likely to average 190,000, according to economists surveyed.