YEREVAN, July 31. /ARKA/. Federal Reserve on Wednesday upgraded its assessment of the US economy, taking note of a decline in the jobless rate and signaling more comfort that inflation was moving up toward its target.

Still, after a two-day meeting, Fed policymakers reiterated concerns about slack in the labor market and reaffirmed that they are in no rush to raise interest rates.

As widely expected, the central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall. –0--