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Economy Is Growing At A 'Measured Pace,' Federal Reserve Says

Shoppers at a Target store in Westbury, N.Y., last week. Consumer spending drives the economy. And the holiday shopping season is crucial for retailers. Shannon Stapleton /Reuters /Landov hide caption

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Shannon Stapleton /Reuters /Landov

The Two-Way

Economy Is Growing At A 'Measured Pace,' Federal Reserve Says

The central bank says conditions continued to improve, though not dramatically, in recent weeks. The report adds to other evidence that the economy is moving along fast enough to keep unemployment from rising, but not fast enough to bring the jobless rate down sharply.

Fed Hints At More Action To Boost Economy

Federal Reserve Chairman Ben Bernanke talks to educators Aug. 7 in Washington, D.C. At their most recent meeting, many Fed members backed action to boost the economy. Manuel Balce Ceneta/AP hide caption

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Manuel Balce Ceneta/AP

The Two-Way

Fed Hints At More Action To Boost Economy

Many Federal Reserve members said there would have to be action fairly soon if the economy didn't pick up, according to the minutes of their most recent meeting. Separately, the CBO warned of a recession if the economy goes off a "fiscal cliff" at the end of year.