Fed's motto: This is not an exit

Despite more recovery hopes, the central bank isn't showing signs of backing off efforts to pump more than $1 trillion into the still struggling U.S. economy.

NEW YORK (CNNMoney.com) -- The Federal Reserve clearly isn't rushing for the exits any time soon.

Even though the Fed suggested last week that the economy had bottomed out and is poised to start growing again, the central bank has yet to lay out details of its so-called "exit strategy" to unwind all the steps it has taken in the past year to try and get the economy back on track.

In fact, the Fed's latest moves show that there are no immediate plans to stop pumping money into the economy.

On Monday, it extended the Term Asset-Backed Securities Loan Facility, or TALF until June 30 of 2010. That program, which essentially guarantees securities backed by a wide variety of consumer and business loans, was originally set to expire in December.

Last week, Fed policymakers announced they would complete their purchase of $300 billion in long-term Treasurys this fall and also confirmed plans to buy up to $1.25 trillion in mortgage-backed securities by the end of the year.

These and other extraordinary programs come on top of the Fed's decision in December to slash its key overnight lending rate to nearly 0% for the first time in its history.

Some economists worry that if the Fed is too slow to rein in its various liquidity programs, all the cash it has injected into the financial system could spark a jump in inflation.

"The ingredients for runaway inflation down the road remain in place," said Allen Sinai, chief global economist for Decision Economics. "Right now inflation is quiet, but it's a sneaky problem, it's like cancer. It sneaks in and sneaks up and one day the world wakes up and it's there."