FINANCIAL TIMES: The US Federal Reserve downgraded its assessment of the economy on Wednesday but made no changes to policy after second-quarter growth came in at an unexpectedly strong annualised rate of 1.7 per cent…
The largely unchanged statement suggests the rate-setting Federal Open Market Committee is comfortable with its plan to slow asset purchases this year, as long as growth is reasonable, and is just acknowledging the softer figures on trade, consumption and business activity in the past few weeks.
The Fed said it would keep purchasing assets at a pace of $85bn-a-month for now and expected to keep interest rates on hold at least until the unemployment rate falls below 6.5 per cent… (more)
