WASHINGTON (AP)- Federal Reserve policymakers are forecasting
slower economic growth, higher unemployment and higher inflation.
The revised forecast for the rest of the year reflects their concern that the economy could continue to weaken even after aggressive interest rate cuts.

In documents released Wednesday, the Fed said it believes that the gross domestic product will grow between 1.3 percent and 2 percent this year. That's lower than a previous Fed forecast for growth, which was estimated then to be between 1.8 percent and 2.5 percent. If the Fed's most recent forecast holds up, that would mean that for the year as a whole, the country would not dip into a recession.

GDP is the value of all goods and services produced within the
United States and is the best barometer of the country's economic
fitness.