The Federal Reserve Shifts Language, Signals New Concern Over Sequester

Thursday, 02 May 2013 09:23  
By Kevin G Hall, McClatchy Newspapers | Report 

Washington - The Federal Reserve, in a carefully worded shift in language, signaled new concern Wednesday that constraints on federal spending are slowing the economy.

The rate-setting Federal Open Market Committee concluded its May meeting by continuing to keep near zero its benchmark federal funds rate, an overnight rate that banks charge one another that influences the costs of borrowing for consumers and businesses alike.