Arab Today, arab today fed slashes 2014 us growth forecast
Last Updated : GMT 08:44:49
Arab Today, arab today
Arab Today, arab today

Fed slashes 2014 US growth forecast

Arab Today, arab today

Arab Today, arab today Fed slashes 2014 US growth forecast

Fed slashes 2014 US growth forecast
Washington - AFP

The Federal Reserve slashed its 2014 growth forecast for the US economy Wednesday to 2.1-2.3 percent after a deeper-than-expected contraction in the first quarter of the year.
In March the Fed forecast growth at 2.8-3.0 percent, before the depth of the winter setback, partially due to extremely harsh weather across much of the country, was known.
But central bank policymakers stuck to their prediction for growth of 3.0-3.2 percent in 2015, with inflation holding at around 2 percent.
They also see the unemployment rate, a key indicator for monetary policy, falling from the current 6.3 percent to 6.0-6.1 percent by year-end, and 5.4-5.7 percent in 2015, both slightly lower than previously forecast

 

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