Fed sees US economy shrinking up to 1.3 pct in 2009 (AFP)

The US Federal Reserve Building is seen from the air over Washington, DC. The Federal Reserve said Wednesday it estimated the US economy would shrink 0.5 to 1.3 percent in 2009, and unveiled longer-range economic projections for the first time.(AFP/Saul Loeb)AFP – The Federal Reserve said Wednesday it estimated the US economy would shrink 0.5 to 1.3 percent in 2009, and unveiled longer-range economic projections for the first time.

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