Fed Maintains Pace of Stimulus; Economic Outlook Is Stable
The Federal Reserve, still uncertain that the American economy can grow unaided, announced Wednesday it will press ahead with its stimulus campaign of asset purchases and low interest rates.
The statement contained no surprises, and the stock market barely budged. The Fed was widely expected to continue adding $85 billion a month to its portfolio of Treasury securities and mortgage-backed securities, particularly in the aftermath of the disruptive partial shutdown of the federal government in the first half of October.
The Fed maintained a relatively optimistic economic outlook in the statement, released after a scheduled two-day meeting of its policy-making committee. It said the economy continued to expand “at a moderate pace” and that the availability of jobs continued to improve.
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http://www.nytimes.com/2013/10/31/business/economy/fed-maintains-stimulus-awaiting-sustainable-growth.html?emc=edit_na_20131030
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