US Federal Reserve lowers GDP forecast, mulls more action

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US Federal Reserve lowers GDP forecast, mulls more action Email this articlePrint this articleTweetReuters | Nov 3, 2011, 03.02AM IST WASHINGTON: The Federal Reserve on Wednesday slashed its forecast for growth, raised projections for unemployment and said it was mulling the possibility of buying more mortgage debt to spur a struggling recovery. While members of the US central bank’s policy-setting panel voted 9-1 to hold a steady course, one official urged more stimulative action now and Fed chairman Ben Bernanke said Europe’s debt crisis posed big economic risks.