FOMC Economic Projections – March 2024

FOMC Quantum Strikes
FOMC Quantum Strikes
  • Expected median GDP growth rates are around 2.1% for 2024, tapering to 2.0% for the subsequent years, indicating steady but moderate economic growth.
  • The unemployment rate is projected to hover around 4.0% to 4.1% through the years, suggesting a stable job market.
  • PCE inflation rates are expected to decrease from 2.4% in 2024 to 2.0% by 2026, showing a move towards the Federal Reserve’s target inflation rate.
  • Core PCE inflation, which excludes food and energy prices, is similarly expected to decline from 2.6% in 2024 to 2.0% in 2026.
  • Federal funds rate projections suggest a possible decrease from median values of around 4.6% in 2024 to 3.1% in 2026, indicating potential easing of monetary policy in the future.

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