Fed Seen as More Dovish Than Expected - Presented by: The Aol. On Network

A careful Fed Chair Janet Yellen held the line at the press conference following the Federal Reserve policymakers' two-day meeting. Making it clear- she is not defining when a rate hike will come: "There is no mechanical formula for what a considerable time means. The answer is it depends. It depends on how the economy progresses." The Fed cut this year's forecast for U.S. economic growth to between 2.1 and 2.3 percent- from 2.9 percent- but kept forecasts for the next two years unchanged.



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