Rpt fED Cuts Growth Outlook for 2016 and 2017, sees Economy Growing at 2 Pct, No Longer Above Long-Term Trend

Rpt fED says Improvement in Labor Market slowed Since April Meeting Despite Pickup in Economic Activity, But Expects Rebound

Rpt fED sees Slower Path of Future Rate hikes at Roughly Three Per Year Starting in 2017, Cuts estimated Long-Run Federal Funds Rate to 3 Pct from 3.3 Pct in March Forecast

Rpt fED Leaves Target Interest Rate unchanged at 0.25 Percent to 0.50 Percent, Still sees Two Rate Increases in 2016

Fed Vote in Favor of Policy Was Unanimous