Source: U.S. Federal Open Market Committee
Release: Summary of Economic Projections
Projections of real gross domestic product growth are fourth-quarter growth rates, that is, percentage changes from the fourth quarter of the prior year to the fourth quarter of the indicated year. Each participant's projections are based on his or her assessment of appropriate monetary policy. The range for each variable in a given year includes all participants' projections, from lowest to highest, for that variable in the given year. This series represents the median value of the range forecast established by the Federal Open Market Committee. For each period, the median is the middle projection when the projections are arranged from lowest to highest. When the number of projections is even, the median is the average of the two middle projections.
Digitized originals of this release can be found at https://fraser.stlouisfed.org/publication/?pid=677.
Federal Reserve Bank of St. Louis and U.S. Federal Open Market Committee, FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Median [GDPC1MD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDPC1MD, December 2, 2020.