Business
Dot Plot Of FOMC Central Tendencies From The September 2022 Meeting. 4.4% EOY 2022
(CTN News) _According to a dot plot for 2022, the end of year rate is projected to be 4.4%, as opposed to 3.4% in June of 2022, based on a dot plot for 2022.
In September 2022, the median rate was 4.4%, up from 3.4% in June 2022.
- The Fed fund target rate for 2023 is 4.6%, up from 3.8% in June 2022.
- For 2024, the median Fed funds target rate is 3.9%, up from 3.4% in June 2022
- In 2025, the median rate is expected to be 2.9%.
Dot plot for September 2022:
Here is a summary of the central tendencies:
Inflation is not expected to return to target 2% until 2025, according to the Fed. Inflation is expected to be closer to 2% in 2024
- The PCE inflation rate for 2022 rises to 5.3% – 5.7% from 5.0% – 5.3%
- In June, PCE inflation was 2.4% – 3.0%, up from 2.6% – 3.5% for 2023.
- PCE inflation for 2024 is modestly higher at 2.1% – 2.6% from 2.0% – 2.5% in June.
- For 2025, PCE inflation will be around 2.0%-2.20%, which is the Fed’s target rate
GDP:
- In 2022, growth will be just over 0.0% at 0.2% on average, compared to 1.5% – 1.9% in 2021.
- According to the June forecast, growth will be between 0.5% and 1.5% in 2023. Growth is slower.
- In June, growth was 1.5% -2.0%, slightly lower than 1.4% – 2.0% in 2024. Unemployment remains close to unchanged
Raise to 3.9% – 3.8% in 2022
Unemployment expected to rise in 2023 from 3.8% to 4.1%
In 2024, unemployment will be 4% – 4.6%. This is higher than June’s 3.9% – 4.1%.
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