Fed expects slower rate increases

Per the NYT:

WASHINGTON — Federal Reserve officials expect to raise interest rates more slowly than they had previously predicted, with a growing number favoring only a single increase this year in the Fed’s benchmark rate.

As expected, the Fed on Wednesday announced no changes in its stimulus campaign after a meeting of its policy-making committee. But economic forecasts the Fed published separately showed that officials are once again leaning toward keeping interest rates lower for longer.

Fed officials reduced their forecasts for economic growth during the current year, a retreat that has become a ritual for the perpetually optimistic central bank. Officials now expect the economy to grow this year between 1.8 percent and 2 percent. Just a few months ago, in March, they had predicted growth of 2.3 percent to 2.7 percent.

Continues reading at the NYT