Fed holds course on lowered US growth forecast | Bangkok Post: news

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Fed holds course on lowered US growth forecast

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The Federal Reserve slashed its 2014 growth forecast for the US economy after the rough winter but kept policy on hold on Wednesday, showing faith in a modest rebound. 

Federal Reserve Chair Janet Yellen speaks during a press conference in Washington, DC on June 18, 2014

Fed Chair Janet Yellen said the economy had picked up after the first quarter's contraction, but she also downplayed a pickup of inflation as any sign of a need to tighten monetary policy.

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