Federal Reserve, keeps monetary policy on ice

NEW YORK (CNNMoney) -- The Federal Reserve acknowledged the job market has improved slightly, but said the economy's immediate future remains on pins and needles.

"The economy has been expanding moderately," and "indicators point to some improvement in overall labor market conditions, the Fed said in a statement Tuesday.

But the Fed was quick to follow up that good note with a side of pessimism: "the unemployment rate remains elevated" and "strains in global financial markets continue to pose significant downside risks."
The Fed's policymaking committee, the Federal Open Market Committee, voted 9-to-1 to make no changes to the central bank's ongoing stimulus policies and renewed its pledge to keep interest rates at record lows "at least through mid-2013."

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