The Federal Reserve on Wednesday trimmed its growth forecast for 2013 slightly and slashed its inflation outlook, suggesting it saw little threat to prices from its ongoing easy-money program.

The economy was expected to grow at an annual rate of 2.3-2.6 percent, slightly below the 2.8 percent top-end growth previously forecast. The Fed projected inflation would come in between 0.8-1.2 percent in 2013, instead of 1.3-1.7 percent seen in March.