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
- The 11 worst fast food restaurants in America
- 7 things the world's happiest people do every day
- 7 grammar rules you really should pay attention to
- 5 tricks to making a mind-blowing burger
- What would a U.S.-Russia war look like?
- 9 things you probably didn't know about the moon
- Why are so many parents being arrested?
- Why America is duty bound to help Iraqi Christians
- Israel has only two choices: Eliminate the Palestinians or make peace
- What if The Purge was real?
Subscribe to the Week