Economic History Latest News: Fed Downgrades U.S. Economic Growth to Modest

Wochit 0:59 mins

The Federal Reserve says the U.S. economy is growing modestly, a downgrade from its June assessment. The Fed expects growth will pick up in the second half of the year, but the more cautious message may signal it's not ready to slow its bond purchases soon. The International Monetary Fund's board completed the fourth review of Greece's bailout program, and approved a further 1.7 billion euros ($2.3 billion) in funds for the cash-strapped euro zone state. Three of the world's leading central banks are likely to reaffirm their determination this week to keep a lid on interest rates for a long time to come, despite signs that their economies are slowly on the mend.

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