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U.S. employment is stalled, growth is anemic, and the Federal Reserve has decided not to take action for at least another month.

Most economists weren't expecting the Federal Open Markets Committee, which sets the Fed's monetary policy, to announce another round of quantitative easing — a fancy term that basically means the central bank buys bonds to increase the money supply and make borrowing cheaper — at this week's meeting. Still, that's exactly what a number of them think is needed.

Breaking News Update at 3:27 p.m. ET: Phelps Wins Gold For 20th Medal.

Michael Phelps has won the men's 200-meter individual medley at the 2012 Summer Games, winning his 20th Olympic medal — and his first individual gold medal in London.

Phelps led Lochte by .16 of one second at the first turn, in the butterfly. He maintained his lead in the backstroke — the discipline Lochte had just raced in half an hour earlier in the day.

American gymnast Gabby Douglas has won her second Olympic gold medal of the London Summer Games, winning the individual all-around event to match her performance anchoring the U.S. team's first-place performance earlier this week.

Douglas scored 15.500 or higher in her first three rotations, with an emphatic 15.966 on her vault. Her final score was 62.232.

Gil Evans, born a century ago this year, was a leading jazz arranger and composer starting in the 1940s, when he wrote for big bands. He helped organize Miles Davis' Birth of the Cool sessions, then arranged Davis' celebrated orchestra albums like Sketches of Spain. Evans, who had his own big bands that went electric in the 1970s and '80s, died in 1991, but some of his rare music has been newly recorded.