The Federal Reserve expressed increasing concern about slowing economic growth as it left interest rates unchanged on Wednesday and showed little appetite for raising them in the near future. The Fed’s fairly downbeat economic assessment is at odds with the White House’s rosy economic projections, which have continued to predict stronger growth than most other forecasters say is likely. The Fed, in a statement at the conclusion of its two-day policy meeting, said “growth of economic activity has slowed from its solid rate in the fourth quarter” and cited slowdowns in household spending and business fixed investment. Fed officials now expect economic growth of 2.1 percent for 2019 , down from the 2.3 percent it forecast in December. The White House insists growth will be much stronger: 3.2 percent this year and 3 percent next year. The gap between Fed expectations for annual growth and White House […]

Posted in: USA