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Fed less optimistic on growth and job gains

Some economists expect further action

By Christopher S. Rugaber and Martin Crutsinger
Associated Press / November 3, 2011

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The Federal Reserve sketched a bleaker outlook Wednesday for the economy, which it thinks will grow much more slowly and face higher unemployment than it had estimated in June. The Fed’s gloomier forecast shows that the recovery from the recession has continued to fall short of expectations. Some economists said it makes the Fed more likely to act further to try to boost the economy, though probably not until early next year.

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