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Fed keeps pumping despite shrinking economy

Posted By -NO AUTHOR- On 01/30/2013 @ 2:39 pm In Money,Politics,U.S. | No Comments

(REUTERS) — The Federal Reserve on Wednesday left in place its monthly $85 billion bond-buying stimulus plan, saying economic growth had stalled but indicating the pullback was likely temporary.

Describing the nation’s job market as continuing its modest pace of improvement, the Fed repeated a pledge to keep purchasing securities until the outlook for employment improves substantially.

“Growth in economic activity paused in recent months, in large part because of weather-related disruptions and other transitory factors,” the Fed said in its January policy statement.

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