Fed cites moderate US growth, takes no new action

Published October 24, 2012 7:48pm ET



WASHINGTON (AP) — Two weeks before a U.S. election focused on the economy, the Federal Reserve said Wednesday that its help is still needed to increase growth and lower unemployment.

The Fed took no action after a two-day policy meeting. It wants time to assess whether the aggressive steps it launched in September will help the economy.

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