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Federal Reserve cuts forecast for US economic growth (BBC)
The Federal Reserve has cut its forecast for economic growth in 2012 from 2.9% to 2.4%.
It has also predicted a central unemployment rate of up to 8.2%, having forecast up to 8% on 25 April.
The central bank also extended its programme of swapping short-term bonds for long-term ones, known as Operation Twist, until the end of the year.
The idea of the programme is to cut the long-term cost of borrowing for businesses and households.
The programme is worth $267bn (£170bn).
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more: http://www.bbc.co.uk/news/business-18527347
