espite noting that it expects the U.S. unemployment rate to fall "only slowly" over the coming months, the Federal Reserve declined to take new steps to support the struggling economy. Instead, the Fed will defer action at least until its next meeting in September. "The committee will closely monitor incoming information on economic and financial developments, and will provide additional accommodation as needed to promote stronger economic recovery and sustained improvement in labor market conditions," members of the group said in a statement.
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