Federal Reserve: Economy Continues To Recover At 'Moderate Pace'
"The economic recovery is proceeding at a moderate pace and overall conditions in the labor market are improving gradually," policymakers at the Federal Reserve just reported.
And the Fed basically signaled that it's not going to be changing its policies on stimulating the economy — by purchasing Treasury securities (in a $600 billion program that's set to end in June) and by keeping short-term interest rates about as low as they can be ("0 to 1/4 percent").
Our colleague Jacob Goldstein at the Planet Money blog will have more, including live updates of Fed Chairman Ben Bernanke's news conference at 2:15 p.m. ET — an unprecedented event for the normally tight-lipped Fed.
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