US growth forecast lowered

US growth forecast lowered

Growth in the US could be negative in the second quarter and under 2 per cent this year, according to Robert Parry, president of the San Franciso Federal Reserve. Independent forecasts have suggested growth of 3-3.5 per cent in 1995. Mr Parry said the economy was not in recession, but the Fed needed to reassess interest rates frequently ''during a tricky period like this".