Longer Run FOMC Summary of Economic Projections for the Fed Funds Rate, Range, High

Observations

2024-12-18: 3.9

Updated: Dec 18, 2024 2:08 PM CST

2024-12-18:	3.9
2024-09-18:	3.8
2024-06-12:	3.8
2024-03-20:	3.8
2023-12-13:	3.8

Units:

Percent,

Not Seasonally Adjusted

Frequency:

Not Applicable

Notes

Title	Release Dates

Longer Run FOMC Summary of Economic Projections for the Fed Funds Rate, Range, High	2015-12-16	2024-12-18

Source

U.S. Federal Open Market Committee	2015-12-16	2024-12-18
Federal Reserve Bank of St. Louis	2015-12-16	2024-12-18

Release

Summary of Economic Projections	2015-12-16	2024-12-18

Units

Percent	2015-12-16	2024-12-18

Frequency

Not Applicable	2015-12-16	2024-12-18

Seasonal Adjustment

Not Seasonally Adjusted	2015-12-16	2024-12-18

Notes

The longer-run projections are the rates of growth, inflation, unemployment, and federal funds rate to which a policymaker expects the economy to converge over time in the absence of further shocks and under appropriate monetary policy. Because appropriate monetary policy, by definition, is aimed at achieving the Federal Reserve's dual mandate of maximum employment and price stability in the longer run, policymakers' longer-run projections for economic growth and unemployment may be interpreted, respectively, as estimates of the economy's longer-run potential growth rate and the longer-run normal rate of unemployment; similarly, the longer-run projection of inflation is the rate of inflation which the FOMC judges to be most consistent with its dual mandate in the longer-term. The projections for the federal funds rate are the value of the midpoint of the projected appropriate target range for the federal funds rate or the projected appropriate target level for the federal funds rate at the end of the specified calendar year or over the longer run. Each participant's projections are based on his or her assessment of appropriate monetary policy.he 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 high value of the range forecast established by the Federal Open Market Committee. Digitized originals of this release can be found at https://fraser.stlouisfed.org/publication/?pid=677.	2015-12-16	2024-12-18