(Reuters) - The Federal Reserve on Wednesday left in place its monthly $85 billion bond-buying stimulus plan, saying economic growth had stalled but indicating the pullback was likely temporary.

Describing the nation's job market as continuing its modest pace of improvement, the Fed repeated a pledge to keep purchasing securities until the outlook for employment "improves substantially."

"Growth in economic activity paused in recent months, in large part because of weather-related disruptions and other transitory factors," the central bank said after a two-day meeting.

A report earlier on Wednesday showed the economy unexpectedly contracted in the fourth quarter as inventory investment slowed and government spending plunged. Analysts said Superstorm Sandy in late October also disrupted the recovery.

The Fed has kept overnight interest rates near zero since late 2008 and it has tripled its balance sheet to about $3 trillion through its purchases of securities, which are aimed at pushing longer-term borrowing costs lower.

While the recovery from the 2007-2009 recession has been stubbornly tepid, the Fed's policy committee voiced confidence it would remain on track with continued help from monetary policy.

"The committee expects that, with appropriate policy accommodation, economic growth will proceed at a moderate pace and the unemployment rate will gradually decline toward levels the committee judges consistent with its dual mandate," the Fed said.

A report on Friday is expected to show the U.S. jobless rate remained stuck at 7.8 percent for a third straight month in January. The Fed repeated that it would keep overnight rates near zero until the unemployment rate hits 6.5 percent, as long as inflation does not threaten to exceed 2.5 percent.

"It's a message that policy is steady as she goes, the changes (in the Fed's statement) are relatively minor," said Julia Coronado, chief North American economist at BNP Paribas in New York.

U.S. stocks and the dollar were little changed after the Fed's announcement, while prices for longer-dated U.S. Treasuries trimmed losses with the yield on the 10-year note hovering just above 2 percent.

REST OF IT

Views: 341

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a video

propaganda: DIVIDE & CONQUER (1942) - Warner Bros. vs Hitler

Not to be confused with the much drier Frank Capra film from 1943.A "Broadway Brevity", released August 1, 1942. Vitaphone #1022-1023A.Transferred from 16mm.
1 hour ago
Doc Vega posted blog posts
yesterday
cheeki kea commented on cheeki kea's photo
Thumbnail

Thumbs down - ship gone.

" So this sort of stupidity has occurred before. Norway or NZ - Who did it better? Cast your…"
yesterday
cheeki kea favorited Doc Vega's blog post The Last Meal
yesterday
tjdavis favorited Sandy's photo
Wednesday
tjdavis favorited cheeki kea's photo
Wednesday
tjdavis favorited tjdavis's video
Wednesday
tjdavis posted photos
Wednesday
tjdavis posted blog posts
Tuesday
cheeki kea favorited tjdavis's video
Tuesday
cheeki kea commented on cheeki kea's photo
Thumbnail

Prime clown idiot of the year.

" Stay tuned this prime clown might just resign from his own circus as his Finance Minister…"
Tuesday
cheeki kea commented on cheeki kea's photo
Tuesday
tjdavis posted a video

The Orb & David Gilmour - Metallic Spheres In Colour: Movement 1 - Excerpt (4K Official Music Video)

The 2010 album Metallic Spheres by The Orb and David Gilmour has been reimagined and remixed as Metallic Spheres In Colour. Out now: https://theorbdg.lnk.to/...
Tuesday
Doc Vega posted a blog post

The Real Explanation of the Mystery Drones over New Jersey

 Keep in mind all of the possible implications around the drones reportedly as big as cars being…See More
Monday
Sandy posted photos
Monday
tjdavis posted a video

Capitol Punishment - The Movie (Updated Trailer)

Order on DVD or Stream it Now: https://givemelibertynow.org/product/capitol-punishment/Told through the eyes of the people who were there on the ground, Capi...
Dec 15
cheeki kea commented on cheeki kea's photo
Dec 15
cheeki kea posted a photo
Dec 15
FREEDOMROX favorited Doc Vega's blog post Biggest Hoax and Hazard to Health in US History Busted Pt. 2
Dec 14
FREEDOMROX posted a blog post
Dec 14

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted