[at CNBC] – The Australian dollar was the big mover Wednesday thanks to better-than-expected GDP data showing the economy growing at its fastest pace in three years during the second quarter.

[at Reuters] – The U.S. economy is continuing to show modest growth, the Asahi newspaper quoted Kansas City Federal Reserve Bank President Thomas Hoenig as saying.

[AP] – Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.

[AP] – ANOTHER RISE: Treasury prices gained again on Tuesday as worries persisted about the state of the economy. NEAR LOW FOR YEAR: The yield on the 10-year Treasury note fell to 2.47 percent from 2.53 perecnt late Monday.

[AP] – The Federal Reserve has approved a request by a Chinese sovereign wealth fund to acquire up to 10 percent of the voting shares of New York investment giant Morgan Stanley.

[Reuters] – The outlook for the U.S. economy would have to deteriorate appreciably to spur fresh support from the Federal Reserve, according to minutes of the central bank s last policy meeting released on Tuesday.

[at Reuters] – * Fed said weakening economy may need new stimulus * Prefer buying Treasuries, but keeping MBS option open * Economy weaker than had been expected

[at MarketWatch] – The Federal Reserve on Tuesday said it has allowed a Chinese sovereign wealth fund, China Investment Corp., to purchase indirectly up to 10% of the voting shares of Morgan Stanley .

[CNNMoney.com] – The Federal Reserve is the last line of defense against a weakening economy, but there has been sharp disagreement among members over what action the central bank should take.

[at Reuters] – The Federal Reserve would need to consider further support for the economy if the outlook weakened appreciably, according to minutes of the central bank s August 10 policy-setting meeting.