Fed says the economic recovery is on firmer footing
The Fed said the economic recovery was on ``firmer footing'' and the job market was ``improving gradually,'' in a statement released after its meeting Tuesday.
Federal Reserve Chairman Ben Bernanke told Congress recently that he expected the US economic recovery to continue at a moderate pace, but he expressed concerns about weakness in residential and commercial construction as well as the ``quite weak'' labor situation that has lifted chronic unemployment to very high levels.