Just a few days ago, the Fed released its June projections. The Fed expects the U.S. economy to grow between 1.8% and two percent this year. (Source: Federal Reserve , last accessed June 17, 2015.) The mainstream will take this number and run with it. But what you won't hear much about is what happened to the Fed's past economic projections.
Please look at the table below. It shows the Federal Reserve's GDP estimates over the past few quarters. Federal Reserve's GDP Growth Projections