The Federal Reserve on Wednesday stood by its aggressive efforts to stimulate the economy and reduce unemployment. It also sent its most explicit signal to date that tax increases and spending cuts that kicked in this year are slowing the economy.
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If the world's investors are right, the Federal Reserve is about to take a bold new step to try to invigorate the U.S. economy.
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 Federal Reserve acted Wednesday to lift an economy that's being held back by a weakened job market. It's extending a program designed to spur borrowing and spending through lower long-term U.S. interest rates.
The Federal Reserve says the economy is growing moderately while cautioning that risks from Europe remain. It also is holding off on taking any further steps to boost the recovery.
The Federal Reserve has given the public increasingly more information about its work and its thinking. More doesn't always mean more revealing.