Fed catches up with world

The central bank's updated economic forecast now looks for growth this year to be between 3 percent and 3.5 percent. That's lower than an earlier forecast of between 3.2 percent and 3.7 percent, but it's still higher than what a number of economists have been projecting. The unemployment rate is likely to stay in the 9.5 percent ballpark (best case, says the Fed, would be 9.2 percent).