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Fed officials worried about weakening job market

Fed officials worried about weakening job market

Federal Reserve officials at their last meeting expressed concerns that the weakening job market might hold back the recovery.
Fed officials said they expected the U.S. economy would pick up in the second half of the year after slowing this spring. But the outlook for both employment and inflation were unusually uncertain, given the sluggish growth and a jump in energy prices this year.
The minutes cover the Fed's June 21-22 meeting. At that meeting, the central bank lowered its economic forecast but kept a pledge to leave interest rates at exceptionally low levels for an extended period.