The Federal Reserve announced on Wednesday that it would maintain its support for the U.S. economy, pressing ahead with a program of bond buying and low interest rates. The Fed, as expected, will continue to buy $85 billion worth of Treasury securities and mortgage-backed securities.
Wednesday’s statement from the Fed was unsurprising news and it maintained, according to the New York Times, “a relatively optimistic economic outlook.” But, the central bank did acknowledge, Reuters reports, “weaker economic signals that have been due in part to a fiscal fight in Washington that shuttered much of the government for 16 days earlier this month." Here’s more on the Fed’s mood, from Reuters:
The central bank noted that the recovery in the housing market had lost some steam and suggested some frustration at how slowly the labor market was healing. However, it also dropped a phrase expressing concern about a run-up in borrowing costs, suggesting greater comfort with the current level of interest rates.
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