Wednesday, June 18, 2014 7:17 PM / WSJ
Federal Reserve officials nudged up their projections for short-term interest rates in 2015 and 2016 but slightly reduced their outlook for interest rates in the longer-run.
The shifts emerged from the Fed's latest two-day policy meeting. In a statement released after the meeting, the Fed underlined an improving economic performance in the last few weeks and said it would wind down the monthly pace of mortgage and Treasury bond purchases by another $10 billion starting in July, to $35 billion.
Economic activity rebounded since officials last met in April, the Fed said in its official policy statement.