Fed Says Economy Picked Up, Cuts Bond Buys Further

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April 30 (Bloomberg) -- The Federal Reserve said the economy is gaining momentum as consumers spend more, and said it would continue to trim the pace of bond purchases. The Federal Open Market Committee pared monthly asset buying to $45 billion, its fourth straight $10 billion cut, and said further reductions in “measured steps” are likely. Peter Cook reports on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

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