Fed sees slower growth for year despite rebound

It also keeps to plan to taper its stimulus campaign

[WASHINGTON] The Federal Reserve said on Wednesday that economic growth had rebounded after a nasty winter even as it slashed its economic forecast for this year to reflect the unexpected contraction during the early months of the year.

In a show of confidence that the winter was an aberration, the Fed also continued to retreat from its economic stimulus campaign. As expected, it announced that it would reduce its monthly bond purchases by US$10 billion to US$35 billion beginning next month, and that...

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