Fed Rejects New Action on Economy

The Federal Reserve said Wednesday that the U.S. economy was slowing and unlikely to create nearly enough work this year for millions of jobless Americans, but Fed leaders declined to take any steps to boost growth.
August 2, 2012

The Federal Reserve said Wednesday that the U.S. economy was slowing and unlikely to create nearly enough work this year for millions of jobless Americans, but Fed leaders declined to take any steps to boost growth. The organization's official statement said only that it would act as needed in the future to keep the economy growing.

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