In its regular semiannual report to the US Congress, the Federal Reserve’s Board of Governors restates its statutory mission of supporting employment, price stability and long-term interest rates. The report summarizes economic and financial progress over the previous two quarters and offers the governors’ outlook for the next few years. In this latest installment, the Fed finds the US economy to be improving – albeit slowly and with the constraint of the sequestration that began in 2013 . The Fed also indicates the conditions that will determine how much longer it will continue its accommodative monetary policy. getAbstract recommends this official recap of the US and global economies to those looking for timely information from the US central bank.
In this summary, you will learn
- How domestic, financial and overseas conditions have affected the US economy in the first half of 2013, and
- What predictions the Federal Reserve Bank makes with respect to monetary policy and the economy beyond 2013.
About the Author
The Board of Governors of the Federal Reserve is a central government agency that, along with 12 regional Federal Reserve Banks, forms the Federal Reserve System of the United States.