The Blue Chip survey of economists sees a small positive growth rate in the third quarter and a stronger economy by the end of the year.
However, in part because the recession is global, many experts believe that the "green shoots" seen in the data may not survive the harsh global environment.
The Fed has taken extraordinary measures to combat the recession. It has pushed short-term interest rates to zero and launched an unprecedented effort to keep credit flowing around the economy.
Fed officials made no changes to their plans to buy Treasurys and other securities to support the flow of credit to the economy.
In March, the Fed promised to purchase $300 billion of Treasury securities, $200 billion of agency debt, and $381 billion of mortgage-backed securities.
Some bond market participants had suggested the Fed might promise to buy more Treasury securities. A few said the Fed would have to do so because yields on the 10-year note were moving up toward the 3 percent threshold.
Ironically, in the wake of the Fed's statement, yields did move above the 3 percent threshold.
"They are saving their bullets," wrote Dan Greenhaus, equity analyst at Miller Tabak.
The Fed has said that it is willing to keep pumping credit until the private market is prepared to take over the task.
The vote on the latest FOMC policy statement was unanimous.
