WASHINGTON — The Federal Reserve said Wednesday the U.S. economy is losing strength and repeated its pledge to try to boost growth if hiring remains weak.

The central bank's policymaking committee took no new action after a two-day meeting but in a statement appeared to signal a growing inclination to take more steps to lift the economy out of its funk.

The Fed noted that growth had slowed over the first half of the year, with job creation slackening and consumer spending tapering off.

It reiterated its plan to hold its benchmark short-term interest rate at a record low near zero until at least late 2014.

Market was muted. The Dow Jones industrial average fell 33 points to 12,976, and broader indexes also dipped. The statement was slightly different from the one issued after the Fed's last meeting in June.

In addition to noting the economy had "decelerated," the committee said it would "closely monitor incoming information" and "will provide additional accommodation as needed" to stimulate the economy and job creation.

In the June statement the central bank said "the economy has been expanding moderately" and that it "is prepared to take further action as appropriate."

Many economists believe the Fed could launch another program of buying government bonds and mortgage-backed securities at its September meeting if the economy doesn't improve. The goal of the program, known as quantitative easing, would be to drive long-term rates, which are already at record lows, even lower.

The Fed's next move could depend on whether the European Central Bank, which meets Thursday, takes any action to stimulate growth among the 17 countries that use the euro.

The next big signal on the U.S. economy comes Friday, when the Labor Department reports on July hiring and jobless trends.

Economists forecast that U.S. employers added 100,000 jobs in July. That would be slightly better than the 75,000 a month average from April through June but still below the healthy 226,000 average in the first three months of the year. The unemployment rate is expected to stay at 8.2 percent.

Fed officials have signaled in speeches their concern about job growth and consumer spending. Bernanke told Congress two weeks ago that the Fed is prepared to take further action if unemployment stays high.

Worries have also intensified the U.S. economy will fall off a "fiscal cliff" at the end of the year. That's when tax increases and deep spending cuts will take effect unless Congress reaches a budget deal. A recession could follow, Bernanke has warned.

Economists also are concerned that the debt crisis in Europe could intensify. Borrowing costs are too high for many governments, including Spain and Italy, and growth is slowing across the region as the effects of budget-cutting take hold.

"The Fed is waiting for more data and they're waiting for Europe," said Sharon Stark, chief market strategist at Sterne Agee, who emphasized the ECB's meeting this week.

Even if the Fed launched a third round of bond purchases, few think that further lowering long-term rates would provide much benefit to the U.S. economy. Most businesses and consumers who aren't borrowing now aren't likely to change their minds if rates slipped a bit more.

Some regional Fed bank presidents have expressed concern that expanding the Fed's balance sheet beyond its current record $2.9 trillion to try to lower rates more would heighten the risk of high inflation later.