Fed finds signs of US slowdown

WASHINGTON, D.C.: US economic activity has slowed in recent weeks, and the labor market has continued to cool, the Federal Reserve (Fed) announced Wednesday, as it continues its fight against stubborn inflation.

The Fed announced earlier in November that it was holding its key lending rate at a 22-year high as it looks to return inflation firmly to the long-term target of 2 percent without triggering a damaging recession.