The American economy, especially the job market, is getting a bit better, but it’s still not good enough.
That’s the main takeaway from the latest meeting of the Federal Reserve that wrapped up Wednesday afternoon.
The hopeful news for job seekers is that the central bank expects the unemployment rate will fall to 6% by the end of this year. That’s getting awfully close to the Fed’s goal for an unemployment rate in the mid 5% range.
The big question on investors’ minds is whether the Fed will raise interest rates by the end of 2014, but that doesn’t look likely. All the Fed officials except one believe interest rates will remain near zero through the end of the year.