The Federal Reserve is trying again to jolt a little life into an economy that's being held back by a weak job market.

Chairman Ben Bernanke said today that the federal reserve is open to another round of bond purchases to lower long- term interest rates and boost growth if the job market doesn't improve.

At the end of a two-day policy meeting, the fed also sharply reduced its forecast for U.S. growth and said it's prepared to act again to bolster the economy.

It reiterated its plan to keep short-term interest rates at record lows until at least late 2014.

Bernanke also said Europe's debt crisis has hurt the american economy.

But he said U.S. policymakers were taking steps to make sure financial institutions could withstand any shocks from the Euro zone.