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Fed holds off on further help to US economy as stronger growth provides breathing room
WASHINGTON (AP) ' The Federal Reserve is holding off on any new actions to help the U.S. economy because stronger growth is giving it time to gauge the impact of steps it's already taken.
Fed policymakers made the announcement after a two-day meeting.
In a statement, the officials said the economy has strengthened and consumers have stepped up spending. But they said the economy continues to face significant downside risks, including strain in global financial markets ' a reference to the crisis in Europe.
The Fed left open the possibility of taking further steps later to try to boost the sluggish economy.
The vote was 9-1. Charles Evans, the president of the Chicago Federal Reserve Bank, dissented because he wanted to take stronger action.