04-30-2017  1:42 pm      •     
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NEWS BRIEFS

"How to Prepare for an Earthquake"

Free presentation on earthquake preparedness at Roosevelt High School, May 2 ...

Clark College Hosts Over 100 Employers at Job Fair

Annual Career Days workshops and job fair provides students and community members with skills and connections to find jobs ...

Oscar Arana Chosen to Lead NAYA’s Community Development

Oscar Arana to serve as NAYA’s next Director of Community Development ...

High School Students Launch Police Forum, May 16

Police Peace PDX is a student-founded organization that bridges divides between community and police ...

U.S. & WORLD NEWS

OPINION

Take Care of Yourself, Your Health and Your Community

Sirius Bonner, Director of Equity and Inclusion for Planned Parenthood Columbia Willamette, writes about the importance of...

Sponsors of Hate Today Must Be Held Accountable

The Foundation for the Carolinas has spent tens of millions of dollars over the years supporting groups that sponsor hate ...

John E. Warren on the Woes of Wells Fargo

Wells Fargo's rating downgraded from "Outstanding" to "Needs to Improve" ...

CBC Opposes Nomination of Judge Gorsuch and the Senate Should Too

Americans need a Supreme Court justice who will judge cases on the merits, not based on his or her personal philosophies ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

NEW YORK (CNNMoney) -- The Federal Reserve trimmed its forecast for economic growth in 2013, but said Wednesday that it's a bit more optimistic that the unemployment rate will decline.

The Fed expects the U.S. economy to grow between 2.3% and 2.8% this year, slightly weaker than its prior estimate.

Meanwhile, the central bank expects the unemployment rate to fall to between 7.3% to 7.5% by the end of the year. The unemployment rate was 7.7% as of February.

Overall, these minor tweaks to the forecasts don't signal any major changes for monetary policy. The central bank still plans to keep its stimulative policies in place, probably until 2015.

Federal Reserve policymakers voted 11-to-1 to keep short-term interest rates near zero, as the Fed has done since December 2008 in an effort to stimulate the economy.

The Fed reiterated that it intends to keep rates low until the unemployment rate falls to 6.5% or inflation exceeds 2.5% a year. Those are rough guidelines, not strict targets. Most Fed officials don't expect those levels to be met until 2015.

The central bank also said it will continue to buy $40 billion in mortgage-backed securities and $45 billion in Treasuries each month for the foreseeable future. The hope is that those purchases will continue to push long-term interest rates even lower.

Esther George, president of the Kansas City Fed, was the only voting member to oppose the decision, citing concerns that the Fed's policies would increase "the risks of future economic and financial imbalances."

Fed Chairman Ben Bernanke will explain the central bank's latest policies at a press conference at 2:30 a.m. Eastern.

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