Federal Reserve cuts forecast for economic growth

  • The Federal Reserve has cut its forecast for economic growth in 2012 from 2.9 percent to 2.4 percent.

    The central bank is also expecting a central unemployment rate of up to 8.2 percent, having forecast up to 8 percent in April

    The increase in the central prediction of the unemployment rate came after the jobless rate rose from 8.1 percent to 8.2 percent in April.