Wednesday, August 01, 2012

Fed says US economy has slowed, takes no new steps

WASHINGTON (AP) -- The Federal Reserve said Wednesday that the economy is losing strength and repeated a pledge to take further steps to stimulate growth if the job market doesn't show sustained improvement.

The Fed took no new action after its two-day policy meeting. But it acknowledged in a statement released after the meeting that economic activity had slowed over the first half of the year, unemployment remains elevated and consumer spending has weakened.
Read the rest here.

No comments: