Federal Reserve trims its forecast for the US economic growth in 2011

On Wednesday the US Federal Reserve cut its forecast for the economic growth while it didn’t suggest any further monetary easing saying the recovery would eventually pick up through 2012.

Ben Bernanke said that while such factors as high commodity prices which impact the economy should be fleeting, still the recovery would feature some weakness.

"Part of the slowdown is temporary and part of it may be longer lasting," Bernanke told a news conference after a two-day Fed policy meeting.

Meantime, official interest rate was kept at a low near zero and Bernanke said the situation should continue by the end of the year.

The Fed estimated the economy should grow 2.7 percent to 2.9 percent this year, down from a forecast range of 3.1 to 3.3 percent made in April.

It also said it sees 2012 growth in a range of 3.3 percent to 3.7 percent, lower than its previous forecast.