From the FINANCIAL TIMES:
The Federal Reserve has cut its 2010 growth forecast for the first time since the economic recovery began last year, as debate at the central bank turns from when to tighten policy to whether to ease it further.
The Fed’s ‘central tendency’ forecast is now for growth between 3.0 per cent and 3.5 per cent in 2010, down from the 3.2 to 3.7 per cent that it forecast in April, according to the minutes of its June meeting published on Wednesday.
About half of the Fed’s governors and Reserve Bank presidents also said there was a greater chance that growth would be below forecast rather than above. In April a large majority thought that the risks were balanced…
Click here to read the full article.
