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Fed says US economy weaker, but no policy change

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2 years ago

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http://www.euronews.com/ The Federal Reserve says the US economic recovery had lost momentum so far this year, but after their monthly meeting, the central bank’s policymakers stopped short of offering new monetary stimulus.

There was a signal in their statement that there could be further purchases of US government bond in the future but no timescale was mentioned.

Analysts believe they will wait until at least September.

Fed officials described the economy as having “decelerated somewhat,” and reiterated their disappointment with the slow pace of progress in bringing down the nation’s 8.2 percent jobless rate.

In a slight hardening of their statement in June, the Fed said: “The Committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed.”

As the Fed met there was some good news on the jobs front private US companies hired more workers than expected in July – but not enough to cut the unemployment rate.

Manufacturing activity contracted for a second month in a row in July, according to the Institute for Supply Management, and exports continued to tumble.

US consumer spending stagnated in June and retail sales fell for a third straight month.

Economic growth slowed to 1.5 percent in the second quarter.

Economists say all those indicators of sluggish growth mean the Fed has to do more, but exactly what and when is still unclear.

Many think Fed Chairman Ben Bernanke could use his speech at the central bank’s high-profile gathering in Jackson Hole, Wyoming, in August to send a strong message to markets. He used that forum in 2010 to communicate the Fed’s intention to pursue a second round of money printing – quantitative easing, or QE2.

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4 Comments

4 Comments

  1. @rdiaz978

    April 28, 2024 at 3:55 am

    let stated all over againg, its the only way to a clear future

  2. @rdiaz978

    April 28, 2024 at 3:55 am

    what i realy like to see is the elites bankers owners of the federal reserve, down and the media corporations owners ,down. and the play ground in the sistem gov

  3. @straty01

    April 28, 2024 at 3:55 am

    The Fed is powerless, the game is over

  4. @radioblueheart

    April 28, 2024 at 3:55 am

    Bring back the National Recovery Act!

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Another Europe News

“It’s freedom”: Border residents react to end of Gibraltar-Spain checks

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July 17, 2026

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“It’s freedom”: Border residents react to end of Gibraltar-Spain checks

Routine border checks between Spain and Gibraltar have ended, allowing thousands of daily commuters to cross more easily. While many welcome shorter journeys and greater freedom, others remain cautious about the long-term impact.

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

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July 17, 2026

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

Cyprus says the EU’s appointment of Raffaele Fitto as special representative for the divided Mediterranean territory will support reunification efforts, but Turkish Cypriot leadership has blasted the move as biased and putting strain on efforts to improve EU-Turkey relations.

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Latest news bulletin | July 6th, 2026 – Morning

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3 hours ago

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July 17, 2026

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Latest news bulletin | July 6th, 2026 – Morning

Catch up with the most important stories from around Europe and beyond this July 6th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.

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‘Food insecurity is on the increase’, World Food Programme Director says

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4 hours ago

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July 17, 2026

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‘Food insecurity is on the increase’, World Food Programme Director says

Conflict in Lebanon has “hit humanitarian operations” worldwide, says WFP Executive Director Carl Skau. “In the poorest countries, people are now eating less” as rising costs have reduced aid deliveries and disrupted supply chains.

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Ukraine opens new cluster of negotiations on EU membership track

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5 hours ago

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July 16, 2026

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The European Union and Ukraine on Tuesday opened a new cluster of negotiations, as part of the process for the country to join the Union.

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