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    June 22, 2011

Fed: US Economy Growing More Slowly Than Expected

   VOA News
   A television monitor shows the interest rate decision of the Federal
   Reserve as specialist Philip Finale works on the floor of the New York
   Stock Exchange, June 22, 2011.
   Photo: AP
   A television monitor shows the interest rate decision of the Federal
   Reserve as specialist Philip Finale works on the floor of the New York
   Stock Exchange, June 22, 2011.

   Top officials of the U.S. central bank say the economy is growing more
   slowly than they expected.
   Federal Reserve officials say the slower growth is due to temporary
   problems such as the disruptions caused by Japan's earthquake and an
   increase in gasoline prices.
   The economic assessment comes after two days of consultations among top
   bank officials and follows several disappointing economic reports.
   Fed officials voted to keep interest rates steady in the ultra-low
   range where they have been for some time.
   They also decided to end another program to stimulate the economy by
   purchasing large quantities of financial assets with the intention of
   lowering long-term interest rates.
   Fed Chairman Ben Bernanke will discuss key economic issues in a meeting
   with journalists later Wednesday.

   Some information for this report was provided by AP, AFP and Reuters.

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