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Fed Says Economy Has Slowed

Policy makers signal willingness to provide more stimulus.

By Joshua Zumbrun and Jeff Kearns, Bloomberg | Updated on August 01, 2012

The Federal Reserve said the economy has slowed and foreshadowed new steps to boost the weakening expansion.

“Economic activity decelerated somewhat over the first half of this year,” the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington. “The committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.”

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