Fed Cuts Growth Forecast
Federal Reserve Bank cut its 2008 economic growth forecast range from the 1.8–2.5%
By Staff -- Purchasing, 3/13/2008
The Federal Reserve Bank cut its 2008 economic growth forecast range from the 1.8–2.5% it forecasted in October to 1.3–2.0% in February. "The possibility that house prices could decline more steeply than anticipated, further reducing households' wealth and access to credit, was perceived as a significant risk to the central outlook for economic growth and employment," said the forecast.
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