Tagged: Economy

Citing an economy that is "expanding moderately," an improving labor market and subdued inflation — but a housing sector that "remains depressed" — the Federal Reserve just announced it is holding to its current policy on short-term interest rates.

The central bank's policymakers also said they expect "moderate economic growth over coming quarters" and that the jobless rate will continue to "decline gradually."

There was a 1.1 percent increase in retail sales in February from January, the Census Bureau says. It was the largest rise in five months, Reuters reports.

And the gain didn't come just become rising gas prices led to a 3.3 percent increase in the value of gasoline sales. According to The Associated Press, retail sales rose 0.8 percent excluding gasoline.

Part of a series

Thanks to high commodity prices and surging productivity, U.S. farmers earned a net income of nearly $98 billion last year — a record, according to the Food and Agricultural Policy Research Institute.