Federal Reserve Downgrades Its Economic Outlook

Washington — Federal Reserve policymakers sharply downgraded their view of the economy — forecasting the weakest annual growth since 2011 — but indicated they were on track to raise a key interest rate in the coming months. “It’s not an ironclad guarantee, but we anticipate that that’s something that will be appropriate later this year,” Fed Chairwoman Janet L. Yellen told reporters Wednesday. Fed policymakers had said they could...

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