Fed: US Economy Growing More Slowly Than Expected

Posted June 22nd, 2011 at 12:55 pm (UTC-5)
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Top officials of the U.S. central bank say the economy is growing more slowly than they expected, but they anticipate the problem to be temporary.

Federal Reserve officials voted to keep interest rates steady in the ultra-low range where they have been for some time.

The economic assessment comes after two days of consultations among top bank officials and follows several disappointing economic reports.

Fed Chairman Ben Bernanke will discuss key economic issues in a meeting with journalists later Wednesday.