BUSINESS BRIEF

Fed says it is continuing bond-buying program

10/31/2013

WASHINGTON — The Federal Reserve says the U.S. economy still needs support from its low interest-rate policies because it is growing only moderately.

In a statement Wednesday after a meeting, the Fed said it would keep buying $85 billion a month in bonds to keep long-term interest rates low and encourage borrowing and spending. The Fed seemed to say that it thinks the economy is improving despite recent sluggish data and uncertainties caused by the partial government shutdown.