Economic Growth Forecast Lowered - July 05, 2011
Federal Reserve officials lowered their forecasts for growth this year and next.  Officials say the U.S. economy growing at a moderate pace, somewhat more slowly than previously projected.

According to officials the US economy will from 2.7 %  this year to 2.9% next year.  Previous projections were from 3.1 % this year to 3.3%  next year.  Along with these revised projections, the fed is also boosting it's projected range of inflation and unemployment rates for both years.
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