Fed expects slower growth, but continues to pare stimulus

Federal Reserve officials say the U.S. economy continues to heal, but decline to signal when they might move to start raising interest rates.

The Federal Open Market Committee, the central bank's monetary-policy setting panel, said that economic activity has rebounded from a cold snap that chilled growth earlier this year. The job market has "generally showed further improvement," it said in its policy statement after concluding a two-day meeting on Wednesday.