U.S. Fed says growth pause temporary, keeps up stimulus
World BusinessJan 31, 2013
The Federal Reserve said Wednesday that the U.S. economy “paused” in recent months because of temporary factors and reaffirmed its commitment to try to stimulate growth by keeping borrowing costs low for the foreseeable future.The Fed took no new action at its two-day policy meeting. But it stood behind aggressive steps it launched in December to try to reduce unemployment, in a statement released after the meeting.In December, the Fed said it would keep its key short-term interest rate at a rec