Does Wall Street Have Fed 'On the Hook' For More Easing?

The stock market has rallied more than 12 percent over the past seven weeks in part over the anticipation that the central bank will provide some form of stimulus to get the economy out of its malaise.

While the Fed has not openly acknowledged that it is ready to enact any new measures, the market is expecting it. Those expectations, will form the impetus for the Fed to start buying assets—probably Treasurys—as part of a program known as quantitative easing, experts say.

They expect a $500 billion program to buy Treasurys in the central bank's latest efforts to drive down interest rates and encourage economic activity.