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Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median (PCECTPIMDLR)

Observation:

2017-09-20: 2  
Updated: Sep 20, 2017

Units:

Fourth Quarter to Fourth Quarter Percent Change,
Not Seasonally Adjusted

Frequency:

Not Applicable
1Y | 5Y | 10Y | Max
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(a) Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median, Fourth Quarter to Fourth Quarter Percent Change, Not Seasonally Adjusted (PCECTPIMDLR)
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.

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 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.

Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median

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(a) Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median, Fourth Quarter to Fourth Quarter Percent Change, Not Seasonally Adjusted (PCECTPIMDLR)
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.

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 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.

Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median

Select a date that will equal 100 for your custom index:
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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.

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Finally, you can change the units of your new series.

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NOTES
Title Release Dates
Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median 2015-12-16 2017-09-20
 
Source    
Federal Reserve Bank of St. Louis 2015-12-16 2017-09-20
U.S. Federal Open Market Committee 2015-12-16 2017-09-20
 
Release    
Summary of Economic Projections 2015-12-16 2017-09-20
 
Units    
Fourth Quarter to Fourth Quarter Percent Change 2015-12-16 2017-09-20
 
Frequency    
Not Applicable 2015-12-16 2017-09-20
 
Seasonal Adjustment    
Not Seasonally Adjusted 2015-12-16 2017-09-20
 
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.

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 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.

2015-12-16 2017-09-20
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Consumer Price Indexes (CPI and PCE) Prices Price Indexes & Deflators National Income & Product Accounts National Accounts

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Federal Open Market Committee Federal Open Markets Committee Projection Median Personal Consumption Expenditures Consumption Expenditures Consumption Personal St. Louis Fed Inflation Rate Not Seasonally Adjusted United States of America Nation
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