Fed hints of future action on US economy

It kept interest rates steady and made no change to monetary policy after its one-day meeting. But it expressed greater concern than previously about the sluggish pace of economic growth and low inflation, the BBC reports. The economy - with unemployment close to 10% - is set to dominate November's mid-term elections. The US recession ended in June 2009, but recovery has lost momentum this year with growth at an annualised rate of 1.6% in the second three months of 2010. The Fed cut key interest rates to near zero in December 2008 and later put money into the economy by buying $...