Reuters
November 2, 2011
The Federal Reserve on Wednesday slashed its forecast for economic growth, raised projections for unemployment, and suggested Europe’s debt crisis posed big downside risks to the U.S. economy.
However, it took note of a strengthening of the U.S. economy in the third quarter and held monetary policy steady.
While the U.S. central bank offered no direct hints it was considering fresh steps to help the economy in a post-meeting statement, one official pushed for action. In the end, the Fed mustered a 9-1 vote for a steady course.
The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!