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US Federal Reserve sees better 2010 economy

Updated: 2010-05-20 03:45
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WASHINGTON -- The US Federal Reserve revised upward its forecast of the US economic growth in 2010, and also foresaw lower unemployment in the country, according to minutes of the latest central bank meeting released on Wednesday.

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Top officials of the Fed said that they think the economy can grow between 3.2 percent and 3.7 percent this year. That is stronger than their forecast of a growth range of 2.8 percent to 3. 5 percent in January.

According to the Federal Open Market Committee, the central bank's policy-making group which meets eight times a year to set interest rates, unemployment rate would fall to between 9.1 and 9.5 percent by the end of the year, down from the previous estimate of 9.5 to 9.7 percent.