Oil jumps past $101 a barrel

Oil futures rallied again Wednesday, pushing briefly past $101 a barrel after the Federal Reserve lowered its forecast for US economic growth this year, convincing energy investors that the central bank will slash interest rates further. The Fed said damage from the housing slump and problems in the credit markets will slow economic growth to between 1.3 percent and 2% this year, down from a previous forecast for GDP growth of between 1.8% and 2.5%.