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Fed Upbeat Despite Dismal US Economic Report

The U.S. economy barely grew during the first three months of the year, but the central bank is giving a bright outlook for the immediate future. The Commerce Department says economic growth was a scant 0.1 percent during the first quarter. This was the slowest growth rate in more than a year, and a sharp drop from the last quarter of 2013. Ending a two-day meeting Wednesday, the U.S. Federal Reserve blamed the slowdown, in part, on a harsh winter that kept people out of stores and...

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