While you were sleeping Fed signals ongoing support

Wed, 31 Jul 2013

By Margreet Dietz Aug 1 (BusinessDesk) - Wall Street advanced as US Federal Reserve policy makers kept its US$85 billion a month bond-buying program intact as the economy continues to recover at a pace that requires ongoing stimulus. "The Committee sees the downside risks to the outlook for the economy and the labour market as having diminished since the fall," policy makers said in a statement at the end of a two-day meeting while at the same time assessing economic activity as "modest" through the first-half of the year. The Fed earlier cha...

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