Fed holds rate as U.S. economy recovery slows
WASHINGTON (AFP) – The Federal Reserve said Wednesday it would again maintain its key interest rate near zero as the pace of the US economic recovery was more sluggish than expected.
“The economic recovery is continuing at a moderate pace, though somewhat more slowly than the committee expected,” the policy-setting Federal Open Market Committee said after a two-day meeting.
“The slower pace of the recovery reflects in part factors that are likely to be temporary.”
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