Fed sees 'diminished' risk to growth, labor market
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The Federal Reserve on Wednesday said downside risks to the economy and the U.S. jobs market have "diminished since the fall," in a more upbeat policy statement released Wednesday. The Fed expects growth to pick up in 2014 after slowing a bit in 2013, with the unemployment rate falling to as low as 6.5% by next year instead of 2015 as previously forecast. Two members of the Fed's policysetting board dissented, James Bullard and Esther George.
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