partlycloudy
Tuesday September 1st, 2015 4:27PM

Fed: Economy growing moderately; no policy changes

By The Associated Press
WASHINGTON - The Federal Reserve says the economy is growing moderately while cautioning that risks from Europe remain. It's holding off on taking any further steps to boost the recovery.

In a statement after a two-day meeting, the Fed said Wednesday that the job market has improved slightly but that unemployment remains elevated. It said the housing market has improved somewhat but remains depressed. It also pointed to a pickup in inflation but said it should be only temporary.

The Fed stuck with its plan to keep a key short-term interest rate near zero through at least late 2014. It announced no new plans for further bond buying after a current program ends in June.

Its decision to leave policy unchanged had been widely expected and had little impact on financial markets.

The Fed's stay-the-course decision was approved on a 9-1 vote of the central bank's key policy panel, the Federal Open Market Committee, composed of Fed board members in Washington and five regional bank presidents.

As he has at the past two meetings, Jeffrey Lacker, president of the Richmond Fed, opposed the late-2014 target date. The statement said Lacker didn't think economic conditions will warrant a record low rate late that long.

Fed Chairman Ben Bernanke will meet with reporters later Wednesday, marking a year since he began holding quarterly news conferences as a way of providing more openness about the Fed's decision-making process.
© 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 This material may not be published, broadcast, rewritten, or redistributed without permission.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
Clinton, aides stressed need to protect sensitive State Department information in email
WASHINGTON (AP) — Hillary Rodham Clinton and her aides at the State Department were acutely aware of — and occasionally frustrated by — the need to protect sensitive information when discussing intern...
2:56PM ( 1 hour ago )
The Latest: Kentucky clerk has until Wednesday to respond to latest in marriage-license case
MOREHEAD, Ky. (AP) — The latest on a Kentucky county clerk who has refused to issue marriage licenses despite a U.S. Supreme Court ruling against her (all times local):2:15 p.m.A federal judge says a...
2:31PM ( 1 hour ago )
Survey: Growth in US manufacturing slows again in August, slips to lowest level since May 2013
WASHINGTON (AP) — A strong dollar and China's economic slowdown dragged growth at U.S. factories to the lowest level since May 2013.The Institute for Supply Management reported Tuesday that its manufa...
12:29PM ( 3 hours ago )
Police investigate motive of man accused of ambushing Texas officer at gas station
HOUSTON (AP) — The man charged with capital murder in the fatal shooting of a uniformed suburban Houston sheriff's deputy had a lengthy criminal record going back a decade, but never spent more than s...
7:57PM ( 1 day ago )
Common Core test results trickle in, but goal of comparing among states goes unfulfilled
LOS ANGELES (AP) — Results for some of the states that participated in Common Core-aligned testing for the first time this spring are out, with overall scores higher than expected though still below w...
8:42AM ( 2 days ago )