With jobless rate at 7.6%, Fed says it’s staying course

Posted: May 2, 2013 at 3:28 a.m.

The Federal Reserve on Wednesday stood by its extraordinary efforts to stimulate the economy, because unemployment remains high at 7.6 percent. The Fed said the economy and job market have been improving only moderately, held back by government spending cuts and tax increases.

This story is only available from our archives.

Business, Pages 24 on 05/02/2013