World Economy

Fed Says Economy Improving

Fed Says Economy ImprovingFed Says Economy Improving

The US economy and job market continue to strengthen, the Federal Reserve said, leaving the door open for a possible interest rate hike when central bank policymakers next meet in September, Reuters reported. Following their latest two-day policy meeting, Fed officials said they felt the economy had overcome a first-quarter slowdown and was “expanding moderately” despite a downturn in the energy sector and headwinds from overseas. They nodded in particular to the “solid job gains” seen in recent months. “On balance, a range of labor market indicators suggest that underutilization of labor resources has diminished since early this year,” the Fed said in a policy statement that kept rates unchanged.