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Fed offers no clues on stimulus

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Fed offers no clues on stimulus
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The Federal Reserve says the US economy is expanding moderately but after its latest policy meeting gave few clues into whether it might offer more stimulus later this year to boost growth.

US central bank officials also repeated their promise to leave interest rates unchanged until at least late 2014.

US consumer spending is showing signs of improvement which is boosting growth.

Retail sales rose more than had been forecast in March with increases in the purchases of cars, furniture, clothes and electronics.

After their two-day meeting, the Fed policymakers noted the employment situation has improved slightly but that unemployment remains elevated, indeed job growth slowed sharply in March.

The state of the economy is a central issue in November’s Presidential election. If the unemployment rate falls it will help President Obama, but if it rises it will help Republican challenger Mitt Romney.