Despite 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.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- After Ferguson: Stop deferring to the cops
- Ferguson riots were terrible — but this racist reaction was worse
- The hilarious hypocrisy of Republicans complaining about the imperial presidency
- 43 TV shows to watch in 2014
- Is it now OK to have sex with animals?
- In Ferguson, Michael Brown lost his life — and America's police lost the benefit of the doubt
- Don't argue about politics this Thanksgiving. Just don't.
- The slippery slope of Twitter's attempts to stop harassment against women
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Hey, scolds: Stop telling us to enjoy a healthy Thanksgiving
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