The Fed slashed its economic outlook

The Federal Reserve just released its latest Summary of Economic Projections.

Notably, the Fed now expects 2015 GDP to grow 1.8% to 2.0%, down from its previous outlook of 2.3% to 2.7% growth.

The Fed also revised its unemployment rate projection up to 5.2 to 5.3% from 5.0% to 5.2%.

NOW WATCH: 5 clever iPhone tricks only power users know about

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.