https://assets.realclear.com/files/2023/06/2201_fomc.pdf
June FOMC Meeting: Saying They Will If They Have To, But Hoping They Won’t Have To? › The FOMC made no change to the Fed funds rate target range, leaving the mid-point of the target range at 5.125 percent › The updated dot plot implies a terminal Fed funds rate target range mid-point of 5.625 percent, up 50 basis points from the March edition It’s hard to imagine an instance in which a unanimous decision has come amid a division as sharp as that exhibited by the FOMC at their June meeting. The median projection shows an average Q4 2023 unemployment rate of 4.1 percent, down from 4.5 percent in the March projections, but what stands out is that the median projection shows an average Q4 2024 rate of 4.5 percent, a meaningfully larger increase from 2023 to 2024 than shown in the March projections.