Fed downgrades its outlook for US economy

Published September 18, 2013 4:01pm ET



WASHINGTON (AP) — The Federal Reserve on Wednesday downgraded its outlook for the U.S. economy for 2013 and 2014. In doing so, it underscored concerns that led it to maintain the pace of its stimulus.

The Fed predicted Wednesday that the economy will grow just 2 percent to 2.3 percent this year, down from its previous forecast in June of 2.3 percent to 2.6 percent growth.

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