Fed lowered US growth forecast

Note: This section contains information in English only.
Source: BBC
The Fed has lowered its forecast for the US economic expansion from 2.9% to 2.4% in 2012. The central bank also expects the unemployment rate to attain 8.2% as compared to an April's forecast of 8%. The Fed announced it would continue Operation Twist, the program of swapping short-term debt for the long-one. The project is aimed at reducing long-term costs of borrowing for companies and individuals. However, no additional stimulus will be provided to boost the US economy.

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Thu, 21 Jun 2012 06:17:03 GMT

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