By MEENA THIRUVENGADAM, JEFF BATER and BRIAN BLACKSTONE
The Fed expects GDP to contract by up to 1.3% this year. Bernanke pledged to do "everything possible" to restore stability and get the U.S. out of recession.
WASHINGTON -- Citing a "continued sharp contraction in real economic activity," the Federal Open Market Committee on Wednesday said it is expecting gross domestic product to contract by up to 1.3% in 2009, a larger drop than it had forecast in October.
Fed FOMC Minutes...