WASHINGTON — The Federal Reserve, meeting at a time of heightened uncertainty, is expected to provide further support for a slumping U.S. economy. But there is no consensus over what form the added support will take.

Some private economists believe the Fed will launch another round of bond buying in an effort to drive long-term interest rates even lower. The aim would be to spur more borrowing, spending and economic growth.

At the very least, many economists believe the Fed will stress its readiness to do more should the economy weaken further.

The Fed was scheduled to conclude its two-day meeting today with the release of a statement outlining any changes in policy. That will be followed by an updated economic forecast from the central bank and then finally a news conference by Fed Chairman Ben Bernanke.

Wall Street rallied on hopes that the Fed will announce that more help is on the way. The Dow Jones industrial average climbed 95.51 points on Tuesday to its highest close in a month.

Bernanke and other Fed officials have acknowledged the U.S. economy is sputtering and the threats posed to it by Europe’s debt crisis.

The Fed has kept its key policy lever, the federal funds rate, at a record low near zero since December 2008.