Fed minutes put damper on recovery hopes

04/9/2009 | Financial Times (free content)

Federal Reserve minutes released Wednesday show that the central bank downgraded its outlook for the U.S. economy at its meeting three weeks ago. "The staff's projections for real GDP in the second half of 2009 and 2010 were revised down," the minutes said. The downbeat forecast contradicts opinions by others that signs of a recovery are emerging.

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