Federal Reserve draws criticism after mistakenly releasing rate forecast

The slip-up was caused by 'procedural errors at a staff level' the Fed says, in the latest blow to its ability to maintain secrecy over its policy deliberations

Staff economists at the Federal Reserve expect a quarter-point US interest rate increase this year, according to forecasts the Fed mistakenly published on its website in a gaffe that drew criticism of its ability to keep secrets.

The rate forecast was included with a series of bearish projections of US economic growth and inflation that were presented to policymakers at their 16-17 June meeting.