Four times per year, the FOMC releases its forward looking economic projections for the economy (GDP), labor (U3 unemployment), core inflation (PCE) and Fed Funds rate as part of its meeting minutes. The economic projections offer the upper, lower and median values submitted by the members. Here we summarize the latest projections as compared to the previous projections to identify any changes in the FOMC’s positions. The projections offer some understanding of FOMC members’ prospective views to better inform us of the likely interest rate (R* neutral rate) path forward. Here is a complete summary.
