WASHINGTON — Six weeks ago, the Federal Reserve unveiled its latest plan to invigorate the U.S. economy. This week, the Fed will likely send a simple message:
Give that plan time to work.
No major announcements are expected when the Fed's latest two-day policy meeting ends today. Instead, officials will likely affirm their plan to buy mortgage bonds as long as necessary to make home buying more affordable, keep short-term interest rates at record lows through mid-2015 and take other stimulative steps if hiring doesn't pick up.
Those policies are intended to support an economy that's shown flashes of strength but isn't growing fast enough to create many jobs or to increase Americans' income. The economy grew at a meager 1.3 percent annual rate in the April-June quarter.
Economists think it grew slightly faster in the July-September quarter. Yet many employers remain wary of hiring, in part because of tax increases and spending cuts set to kick in next year and in part because of a slowing global economy.
- Working on Thanksgiving Day? Here's why most...
- Our complete guide to Black Friday, Cyber...
- Facing health law hikes, consumers mull options
- Thanksgiving trumps Black Friday for deals
- Review: 'Smash Bros.' makes brutality adorable
- Dave Ramsey says: Saving for education trumps...
- Why the ugly sweater business is booming
- Why 'Shark Tank' investor Barbara Corcoran...
- Obama immigration plan good, not great... 13
- Working on Thanksgiving Day? Here's why... 11
- White House: Immigration steps would... 7
- Ford's new F-150 to get 26 mpg, tops... 4
- Facing health law hikes, consumers mull... 4
- Thanksgiving trumps Black Friday for deals 3
- The unstoppable powerhouse of Disney's... 1
- The best time of year to buy (Hint:... 1