UsEconomicOutlook

Fed Takes No New Action at Final Meeting of 2011

The Federal Reserve says the economy has grown moderately as hiring and consumer spending have improved. As a result, it's holding off on any new steps to boost the economy. But Fed officials, noting that unemployment remains high and global economic growth has slowed, left open the possibility of taking new steps next year if the economy worsens.

IMF Sharply Downgrades U.S. Economic Outlook

The International Monetary Fund has sharply downgraded its outlook for the U.S. economy through 2012 because of weak growth and concern that Europe won't be able to solve its debt crisis.