Bernanke stays his course pre-election

Oct 24, 2012, 6:43 PM EDT
Chairman of the U.S. Federal Reserve Board Ben Bernanke speaks during a news conference September 13, 2012 in Washington, DC. The Federal Reserve on Wednesday stuck to its plan to keep stimulating U.S. growth until the job market improves even as it acknowledged some parts of the economy were looking a bit better.
Getty Images/Alex Wong

The U.S. Federal Reserve says the economy is still growing moderately and that it will continue with its bond-buying program. As expected it made no change to monetary policy ahead of November's U.S. presidential elections. When its interest-rate-setting Open Markets Committee next meets in December, it will know the third-quarter GDP figures and, possibly, have an indication of what will happen with the looming fiscal cliff of tax rises and spending cuts.