"Growth in economic activity paused in recent months, in large part because of weather-related disruptions and other transitory factors," the central bank said after a two-day meeting.
A report earlier on Wednesday showed the economy unexpectedly contracted in the fourth quarter as inventory investment slowed and government spending plunged. Analysts said Superstorm Sandy in late October also disrupted the recovery.Just a pause?
From weather disruptions and other transitory factors?
Translation...Everything has failed to this point, so it must be weather.