Home > Releases > Summary of Economic Projections > Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, Midpoint
Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, Midpoint (PCECTPICTMLR)
Observation:
20171213: 2.00 (+ more)Updated: Dec 13, 2017
20171213:  2.00  
20170920:  2.00  
20170614:  2.00  
20170315:  2.00  
20161214:  2.00 
Units:
Fourth Quarter to Fourth Quarter Percent Change,Not Seasonally Adjusted
Frequency:
Not ApplicableProjections of personal consumption expenditures (PCE) inflation rate 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. PCE inflation rate is the percentage rates of change in the price index for personal consumption expenditures (PCEPI). 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; the central tendencies exclude the three highest and three lowest projections for each year. This series represents the midpoint of the central tendency forecast's high and low values established by the Federal Open Market Committee.
Digitized originals of this release can be found at https://fraser.stlouisfed.org/publication/?pid=677.
Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, Midpoint
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Projections of personal consumption expenditures (PCE) inflation rate 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. PCE inflation rate is the percentage rates of change in the price index for personal consumption expenditures (PCEPI). 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; the central tendencies exclude the three highest and three lowest projections for each year. This series represents the midpoint of the central tendency forecast's high and low values established by the Federal Open Market Committee.
Digitized originals of this release can be found at https://fraser.stlouisfed.org/publication/?pid=677.
Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, Midpoint
Customize data:
Write a custom formula to transform one or more series or combine two or more series.
You can begin by adding a series to combine with your existing series.
Now create a custom formula to combine or transform the series.
Need help? []
For example, invert an exchange rate by using formula 1/a, where “a” refers to the first FRED data series added to this line. Or calculate the spread between 2 interest rates, a and b, by using the formula a  b.
Use the assigned data series variables (a, b, c, etc.) together with operators (+, , *, /, ^, etc.), parentheses {(,)}, and constants (1, 1.5, 2, etc.) to create your own formula (e.g., 1/a, ab, (a+b)/2, (a/(a+b+c))*100). As noted above, you may add other data series to this line before entering a formula.
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Title  Release Dates  


Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Central Tendency, Midpoint  20090218  20171213 
Source  


Federal Reserve Bank of St. Louis  20090218  20171213 
U.S. Federal Open Market Committee  20090218  20171213 
Release  


Summary of Economic Projections  20090218  20171213 
Units  


Fourth Quarter to Fourth Quarter Percent Change  20090218  20171213 
Frequency  


Not Applicable  20090218  20171213 
Seasonal Adjustment  


Not Seasonally Adjusted  20090218  20171213 
Notes  


The longerrun projections are the rates of growth, inflation, and unemployment 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' longerrun projections for economic growth and unemployment may be interpreted, respectively, as estimates of the economy's longerrun potential growth rate and the longerrun normal rate of unemployment; similarly, the longerrun projection of inflation is the rate of inflation which the FOMC judges to be most consistent with its dual mandate in the longerterm. Projections of personal consumption expenditures (PCE) inflation rate 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. PCE inflation rate is the percentage rates of change in the price index for personal consumption expenditures (PCEPI). 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; the central tendencies exclude the three highest and three lowest projections for each year. This series represents the midpoint of the central tendency forecast's high and low values established by the Federal Open Market Committee. Digitized originals of this release can be found at https://fraser.stlouisfed.org/publication/?pid=677. 
20090218  20171213 
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