US economy to grow 2.5% this year: Fed

HONG KONG (REUTERS) - The US economy is expected to grow by 2.5 per cent this year, improving to 3.5 per cent growth in 2014, Chicago Fed President Charles Evans said at the Asian Financial Forum in Hong Kong.

Mr Evans also forecast the US unemployment rate would be 7.4 per cent this year, easing to about 7 per cent in 2014.

Last month, Fed policymakers said they expected Gross Domestic Product growth of between 2.3 and 3.0 per cent this year, and 3-3.5 per cent in 2014.