The Federal Reserve’s Outlook: Less Optimistic
Not wanting to say that things look worse, the Fed is suggesting that the recovery is less than expected.
“The economic recovery is continuing at a moderate pace, though somewhat more slowly than the committee had expected”, according to last week’s Fed statement.
What’s causing the recovery to progress “more slowly”? No answer. The Fed “doesn’t have a precise read on why this slower pace of growth is persisting”.