Fiscal Year 2014 (FY 2014) refers to the 12-month period that began on October 1, 2013, and ended on September 30, 2014. This period is used by the U.S. federal government for budgeting and financial reporting. During FY 2014, the government focused on managing its budget, addressing the national debt, and implementing various programs. In FY 2014, the U.S. economy showed signs of recovery following the recession, with improvements in employment rates and consumer spending. The Congress passed the Bipartisan Budget Act of 2013, which aimed to reduce the impact of automatic spending cuts known as sequestration, providing more stability for federal funding.