For months Fed members -- usually in the voice of Chairman Ben Bernanke -- have stated their willingness to act again if the situation warrants it. But Bernanke is usually careful to avoid specifics, such as what exactly needs to happen to prompt additional action and when that might take place.

Most analysts assume the Fed will resort to additional bond buying, known as quantitative easing. The Fed has already announced that historically low interest rates will remain in place until late 2014 and that isn't expected to change.

The European Central Bank and Bank of England are also meeting next week.

Auto sales are due on Wednesday, and demand for smaller more fuel-efficient cars is expected to help car makers report sizable increases from sales a year ago. Toyota (NYSE: TM) and Honda (NYSE: HMC) are expected to benefit from the growing demand for small cars.

Second-quarter earnings reports will continue to roll out.