Officials see 2021 GDP growth of 6.5%, unemployment at 4.5% The Federal Reserve on Wednesday projected a rapid jump in US economic growth and inflation this year as the Covid-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come. The US central bank now sees the economy growing 6.5% this year – predicting the largest annual output growth since 1984 – and the unemployment rate falling to 4.5% by year’s end, compared to growth of 4.2% and unemployment of 5% projected at its December policy meeting. The pace of price increases is now expected to exceed the Fed’s 2% target for the year, hitting 2.4% by year’s end before falling back in 2022. “Indicators of economic activity and employment have turned up,” the policy-setting Federal Open Market Committee said in a statement that kept the benchmark overnight interest rate in a target range of zero to 0.25%. The improvement in the Fed’s economic outlook did not immediately...