Officials of the U.S. central bank say the economy has grown moderately, and they kept the key interest rate steady at ultra-low levels, a range of zero to 0.25 percent, where it has been for about three years.
Tuesday’s report from the Federal Reserve also said global growth is slowing, perhaps a reference to Europe’s debt crisis that has troubled financial markets and worried investors. The Fed statement said the housing sector is depressed and called unemployment elevated. Fed officials predict the U.S. jobless rate will decline slowly.
The central bank has been trying to ease problems in the housing and job markets by bolstering economic growth with low interest rates.