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Fed notes better economy, takes no policy action

The Federal Reserve sketched a mildly brighter view of the economy Tuesday after a burst of hiring since its last meeting in January. It took no further steps to aid the recovery and repeated its plan to keep short-term interest rates near zero through 2014.

By Martin Crustsinger | Updated on March 13, 2012

WASHINGTON (AP) — The Federal Reserve sketched a mildly brighter view of the economy Tuesday after a burst of hiring since its last meeting in January. It took no further steps to aid the recovery and repeated its plan to keep short-term interest rates near zero through 2014.

After a one-day policy meeting, the Fed said unemployment should continue to decline gradually as the economy expands. It also noted that consumer spending and business investment have picked up.

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