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Following is the text of the statement by the Federal Reserve on Wednesday announcing it was holding its base federal funds target rate at a record low between zero and 0.25percentt: Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower.
Bank lending has continued to contract.
Bank lending has continued to contract in recent months.
According to Markit's latest flash PMI, German output continued to contract in October.
Medium-sized firms continued to contract, though at a barely perceptible rate.
Bank lending has continued to contract, but at a reduced rate in recent months.
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The industry is continuing to contract.
Hundreds of Haitians continue to contract the disease each month.
As it continues to contract, it moves downward and to the left toward the main sequence.
Without these and other reforms, access to justice will continue to contract.
The real problem will occur if the economy continues to contract into 2014.
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