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Release Tables:
Summary of Economic Projections

   
    2019    
 
 
    2022
Name 2022 Preceding
Period
Year Ago
from Period
Units
MEDIAN
Change in real GDP
1.8 1.9 1.9 Fourth Qtr. to Fourth Qtr. % Chg.
Unemployment rate
3.9 3.8 3.8 %
PCE inflation
2.0 2.0 2.0 Fourth Qtr. to Fourth Qtr. % Chg.
Core PCE inflation
2.0 2.0 2.0 Fourth Qtr. to Fourth Qtr. % Chg.
Memo: Projected appropriate policy path
Federal funds rate
2.4 2.1 2.1 %
CENTRAL TENDENCY LOW
Change in real GDP
1.7 1.8 1.8 Fourth Qtr. to Fourth Qtr. % Chg.
Unemployment rate
3.7 3.6 3.6 Fourth Qtr., %
PCE inflation
2.0 2.0 2.0 Fourth Qtr. to Fourth Qtr. % Chg.
Core PCE inflation
2.0 2.0 2.0 Fourth Qtr. to Fourth Qtr. % Chg.
Memo: Projected appropriate policy path
Federal funds rate
1.9 1.6 1.6 %
CENTRAL TENDENCY MIDPOINT
Change in real GDP
1.85 1.90 1.90 Fourth Qtr. to Fourth Qtr. % Chg.
Unemployment rate
3.85 3.75 3.75 Fourth Qtr., %
PCE inflation
2.10 2.00 2.00 Fourth Qtr. to Fourth Qtr. % Chg.
Core PCE inflation
2.10 2.00 2.00 Fourth Qtr. to Fourth Qtr. % Chg.
Memo: Projected appropriate policy path
Federal funds rate
2.25 2.00 2.00 %
CENTRAL TENDENCY HIGH
Change in real GDP
2.0 2.0 2.0 Fourth Qtr. to Fourth Qtr. % Chg.
Unemployment rate
4.0 3.9 3.9 Fourth Qtr., %
PCE inflation
2.2 2.0 2.0 Fourth Qtr. to Fourth Qtr. % Chg.
Core PCE inflation
2.2 2.0 2.0 Fourth Qtr. to Fourth Qtr. % Chg.
Memo: Projected appropriate policy path
Federal funds rate
2.6 2.4 2.4 %
RANGE LOW
Change in real GDP
1.6 1.7 1.7 Fourth Qtr. to Fourth Qtr. % Chg.
Unemployment rate
3.3 3.3 3.3 Fourth Qtr., %
PCE inflation
1.8 1.8 1.8 Fourth Qtr. to Fourth Qtr. % Chg.
Core PCE inflation
1.8 1.8 1.8 Fourth Qtr. to Fourth Qtr. % Chg.
Memo: Projected appropriate policy path
Federal funds rate
1.6 1.6 1.6 %
RANGE MIDPOINT
Change in real GDP
1.85 1.90 1.90 Fourth Qtr. to Fourth Qtr. % Chg.
Unemployment rate
3.75 3.70 3.70 Fourth Qtr., %
PCE inflation
2.00 2.05 2.05 Fourth Qtr. to Fourth Qtr. % Chg.
Core PCE inflation
2.00 2.05 2.05 Fourth Qtr. to Fourth Qtr. % Chg.
Memo: Projected appropriate policy path
Federal funds rate
2.25 2.10 2.10 %
RANGE HIGH
Change in real GDP
2.1 2.1 2.1 Fourth Qtr. to Fourth Qtr. % Chg.
Unemployment rate
4.2 4.1 4.1 Fourth Qtr., %
PCE inflation
2.2 2.3 2.3 Fourth Qtr. to Fourth Qtr. % Chg.
Core PCE inflation
2.2 2.3 2.3 Fourth Qtr. to Fourth Qtr. % Chg.
Memo: Projected appropriate policy path
Federal funds rate
2.9 2.6 2.6 %
   

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