clear
Wednesday July 1st, 2015 2:39AM

Fed cites moderate US growth, takes no new action

By The Associated Press
WASHINGTON (AP) The Federal Reserve says the economy is improving only moderately and still needs its support to help lower unemployment.

The Fed took no new action after a two-day policy meeting. It wants time to assess whether aggressive steps launched in September will boost growth and job creation.

The central bank says consumer spending was a little stronger, but business investment slowed. It also said inflation picked up slightly because of higher energy prices.

The Fed last month began buying mortgage bonds to try to push long-term interest rates lower and make home buying more affordable. It also said it plans to keep its benchmark short-term rate near zero through mid-2015.

The unemployment rate fell in September to 7.8 percent, the first time it's been below 8 percent since January 2009.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Doctors: Blood clot located in Clinton's head
Secretary of State Hillary Rodham Clinton developed a blood clot in her head but did not suffer a stroke or neurological damage, her doctors said Monday. They say they are confident that she will make a full recovery.
3:55PM ( 2 years ago )
Illinois Sen. Kirk to return a year after stroke
Nearly a year after a stroke left him barely able to move the left side of his body, U.S. Sen. Mark Kirk is expected to climb the 45 steps to the Senate's front door this week - a walk that's significant not just for Illinois' junior senator, but also for medical researchers and hundreds of thousands of stroke patients.
3:54PM ( 2 years ago )
U.S. News
Ga. ethics legislation could end free tickets
General Assembly approval next year of a proposed ethics reform measure could endanger an important fall tradition for Georgia lawmakers - free football tickets.
6:26PM ( 2 years ago )
Abortion restrictions, tax changes loom in Ga.
Tax breaks for manufacturers and higher unemployment taxes for employers take effect with the new year in Georgia, but it remains to be seen whether the state's newest abortion restrictions will be enforced.
6:23PM ( 2 years ago )
Business News
Couch names administrative team
Ahead of his scheduled swearing in Friday, Hall County Sheriff-elect Gerald Couch named his top administrative team Monday.
6:28PM ( 2 years ago )
Tech beats Southern California in Sun Bowl
Tevin Washington threw a touchdown pass and ran for another score to help Georgia Tech beat Southern California 21-7 on Monday in the Sun Bowl.
5:54PM ( 2 years ago )
Hall Co. officials launch health-based initiative for employees
Hall County officials believe healthy county employees will be of greater service to the county. With that in mind, they have created a health-based fitness initiative to provide free fitness training for county workers.
5:46PM ( 2 years ago )
Local/State News
Asian stocks higher as investors watch Greek debt talks
TOKYO (AP) — Asian shares rose on Wednesday as investors watched to see the next step as Greece fell into arrears after failing to make a debt repayment on Tuesday. Investors worry a default on its de...
1:49AM ( 50 minutes ago )
Christie promises blunt campaign as he enters 2016 contest
LIVINGSTON, N.J. (AP) — A tough-talking New Jersey Gov. Chris Christie launched his 2016 campaign for president Tuesday with a promise to tell voters the truth even if it makes them cringe.The Republi...
8:42PM ( 5 hours ago )
Same-sex marriage fight turns to clerks who refuse licenses
MOREHEAD, Ky. (AP) — Rowan County Clerk Kim Davis shut her blinds at work Tuesday to block the view of rainbow-clad protesters outside. They carried flowers and flags and signs saying "you don't own m...
7:09PM ( 7 hours ago )
Oklahoma court: Ten Commandments monument must come down
OKLAHOMA CITY (AP) — A Ten Commandments monument on the Oklahoma Capitol grounds is a religious symbol and must be removed because it violates the state's constitutional ban on using public property t...
4:04PM ( 10 hours ago )
O say can you breathe? Fireworks pollute air, study says
NEW YORK (AP) — July Fourth fireworks fill the skies across the nation with more than sparkling bursts of color. They spew pollution, too.A study of 315 locations around the country found that the hol...
2:18PM ( 12 hours ago )