74°
Baton Rouge, Louisiana
3 Day Outlook
Sat
84°
68°
80%
Sun
85°
69°
60%
Mon
85°
68°
80%

Latest Weather Blog

Follow our weather team on social media

Economy "paused" last quarter

2 years ago January 30, 2013 Jan 30, 2013 Wednesday, January 30 2013 Wednesday, January 30, 2013 6:40:42 PM EST in News
Source: Associated Press

The Federal Reserve took no action after a two day policy meeting even though it says the economy paused in recent months. It did reaffirm its commitment to boost the sluggish economy by keeping borrowing cheap for the foreseeable future. Last month The Fed said it would keep its key short-term interest rate at a record low until the unemployment rate fell below 6.5% and it would keep buying $85 billion a month in Treasury and mortgage bonds to keep borrowing costs low and encourage spending. The Fed says the slowdown in the economy was due to temporary factors. It was the first time the economy shrank since 2009.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
5 Days
Today
T-Storms
85°
69°
Sat
T-Storms
84°
68°
Sun
Scattered T-Storms
85°
69°
Mon
T-Storms
85°
68°
Tue
T-Storms
86°
69°