While you were sleeping Data overshadows Fed

Wed, 01 May 2013

By Margreet Dietz May 2 (BusinessDesk) - The latest US economic data were disappointing, more than offsetting the decision by Federal Reserve policy makers to stick with their program of purchasing US$85 billion of bonds a month to bolster growth. "The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labour market or inflation changes," the Fed said in a statement at the end of a two-day FOMC meeting. The statement helped Wall Street pare losses momentar...

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