The Federal Reserve cut back its US economic growth forecasts for this year and next on Wednesday, but said the unemployment rate would fall faster than it forecast in December. The Fed said the economy was expected to grow 2.8-3.0 percent in 2014 and 3.0-3.2 percent in 2015, while unemployment would drop to 6.1-6.3 percent this year and below 6.0 percent in 2015.