Fed expected to cut US growth forecasts
But it may still continue with its plans to raise interest rates later this year
Add BT as a preferred sourceNew York
FEDERAL Reserve officials will probably cut their forecasts for economic growth when they gather again next month, though not enough to deter their intent to raise interest rates later this year.
The median respondent to a survey of 79 economists conducted by Bloomberg from May 8 to May 13 said US gross domestic product would grow 2.3 per cent in the final quarter of 2015 from a year earlier, down from the 2.7 per cent median estimate in April.
