Home > Releases > Summary of Economic Projections > Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median
Longer Run FOMC Summary of Economic Projections for the Personal Consumption Expenditures Inflation Rate, Median (PCECTPIMDLR)
Observation:
20180321: 2 (+ more)Updated: Mar 21, 2018
20180321:  2  
20171213:  2  
20170920:  2  
20170614:  2  
20170315:  2 
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 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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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
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, Median  20151216  20180321 
Source  


Federal Reserve Bank of St. Louis  20151216  20180321 
U.S. Federal Open Market Committee  20151216  20180321 
Release  


Summary of Economic Projections  20151216  20180321 
Units  


Fourth Quarter to Fourth Quarter Percent Change  20151216  20180321 
Frequency  


Not Applicable  20151216  20180321 
Seasonal Adjustment  


Not Seasonally Adjusted  20151216  20180321 
Notes  


The longerrun 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' 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 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. 
20151216  20180321 
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