The Federal Reserve’s economic outlook isn’t so much pessimistic as it is uncertain, with expectations running a wide gamut from a plodding recovery to a sharp rebound. If that sounds a lot like the market lately, it’s probably not a coincidence. Following its two-day meeting earlier this week, the Fed released its Summary of Economic Projections for GDP, unemployment, inflation and interest rates. The estimates largely reflected the current unprecedented downturn followed by expectations for varying levels of growth ahead. Specifically on GDP, which measures goods and services produced and is the broadest yardstick ... (full story)