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Federal Reserve officials have a slightly dimmer view of the economy than what they held in April. It reflects worries about how the European debt crisis could affect economic growth and American job prospects.
Fed officials said Wednesday that they think the U.S. economy will grow around 3 percent this year. That's a downward revision from a growth range in their April forecast.
The Fed's latest forecast sees the unemployment rate, now at 9.5 percent, possibly holding or in the best case falling to 9.2 percent. The Fed's new forecast made only minor changes. But they underscore a view that economic prospects are slightly weaker.