Posted AT 3:26 PM EDT on 21/05/08
Fed sees slower U.S. growth, higher unemployment in 2008
WASHINGTON — The U.S. Federal Reserve on Wednesday sharply lowered its projection for U.S. economic growth this year, citing blows from the housing and credit debacles along with zooming energy prices. It also expects higher unemployment and inflation.
Wall Street tumbled in response. But Fed officials, even with the more downbeat assessment, left the impression that they would not be inclined to cut interest rates further.
The full text of this article has 725 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
