A security guard walks in front of an image of the Federal Reserve following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, DC, U.S. on March 16, 2016. REUTERS/Kevin Lamarque
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U.S. Federal Reserve policymakers are set this week to again cut their forecasts for how high interest rates will need to go in an economy where output, productivity and inflation are growing at a slower pace than in past decades.Conversations with Fed officials suggest some will cut their predictions for the longer-run rate at this week's monetary policy meeting, with the median forecast possibly falling to 2.75 percent. The Fed's policy rate has been about 0.38 percent since it was raised in December, the first increase in nearly a decade.The Fed has not raised rates this year despite signaling in December that four rate hikes were coming in 2016 .Still, any cut to the Fed's neutral rate forecast does not mean it will never raise rates.
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