Fed officials sharply downgraded their economic forecast for this year. They projected the economy would grow between 1.8% and 2% this year, well below the range of 2.3% to 2.7% in its last forecast in March… While the housing market “has shown some improvement,” central bank policymakers said exports and investments by businesses have been soft.
Federal Reserve: Rate hike likely before year-end… The Federal Reserve on Wednesday signaled that the U.S. economy is nearly ready to stand on its own but sought to assure investors that the process would be gradual.
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