Fed slashes 2009 US growth forecast, sets inflation goal (AFP)

US Chairman of the Federal Reserve Ben Bernanke waits to speak at the National Press Club in Washington, DC. The Federal Reserve projected Wednesday that the US economy will contract in 2009 and for the first time set a long-range inflation goal in a bid to strengthen monetary policy.(AFP/Saul Loeb)AFP – The Federal Reserve projected Wednesday that the US economy will contract in 2009 and for the first time set a long-range inflation goal in a bid to strengthen monetary policy.

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