Fed Sees Signs Recession May Easing

By: Associated Press Email
By: Associated Press Email

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Wednesday, April 29, 2009

The Federal Reserve says it sees signs the recession may be easing but warns the economy is likely to remain weak.

Against that backdrop the Fed held its key lending rate at a record low of between zero and 0.25%. It also decided against taking any new steps to shore up the economy.

The Fed says: "The economy has continued to contract, though the pace of contraction appears to be somewhat slower."

Aggressive action already taken should help bolster the economy, although the Fed left the door open to future action if needed.

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