Fed cuts US economic forecasts for 2015

The Federal Reserve on Wednesday broadly lowered its outlook on the US economy this year, saying growth and inflation were slowing but the jobs market was expected to keep improving. The FOMC said that the labor market had made gains but inflation had declined further below its longer-run 2.0 percent target, largely due to falling energy prices. In an update of December projections released along with the FOMC statement, the Fed cut its estimate of 2015 gross domestic product growth by 0.3 perce