FOMC Summary of Economic Projections:

Federal Funds Rate 2026: (exp. 3.375%, prev. 3.4%) 2027: (exp. 3.125%, prev. 3.1%) 2028: (exp. 3.125%, prev. 3.1%) Longer Run: (exp. 3.125%, prev. 3.0%) Unemployment Rate 2026: (exp. 4.4%, prev. 4.4%) 2027: (exp. 4.2%, prev. 4.2%) 2028: (exp. 4.2%, prev. 4.2%) Longer Run: (exp. 4.2%, prev. 4.2%) PCE 2026: (exp. 2.6%, prev. 2.4%) 2027: (exp. 2.2%, prev. 2.1%) 2028: (exp. 2.0%, prev. 2.0%) Longer Run: (exp. 2.0%, prev. 2.0%) Core PCE 2026: (exp. 2.6%, prev. 2.5%) 2027: (exp. 2.2%, prev. 2.1%) 2028: (exp. 2.0%, prev. 2.0%) GDP 2026: (exp. 2.2%, prev. 2.3%) 2027: (exp. 2.0%, prev. 2.0%) 2028: (exp. 1.9%, prev. 1.9%) Longer Run: (exp. 1.8%, prev. 1.8%)