Transcription of Summary of Economic Projections
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Summary of Economic Projections
For release at 2:00 , EST, december 15, 2021 Summary of Economic ProjectionsIn conjunction with the Federal Open Market Committee (FOMC) meeting held onDecember 14 15, 2021, meeting participants submitted their Projections of the mostlikely outcomes for real gross domestic product (GDP) growth, the unemploymentrate, and inflation for each year from 2021 to 2024 and over the longer run. Eachparticipant s Projections were based on information available at the time of the meeting,together with her or his assessment of appropriate monetary policy including a pathfor the federal funds rate and its longer-run value and assumptions about otherfactors likely to affect Economic outcomes. The longer-run Projections represent eachparticipant s assessment of the value to which each variable would be expected toconverge, over time, under appropriate monetary policy and in the absence of furthershocks to the economy. Appropriate monetary policy is defined as the future path ofpolicy that each participant deems most likely to foster outcomes for Economic activityand inflation that best satisfy his or her individual interpretation of the statutorymandate to promote maximum employment and price 1 of 17 For release at 2:00 , EST, december 15, 2021 Table 1.
Dec 15, 2021 · For release at 2:00 p.m., EST, December 15, 2021 Figure1. Medians,centraltendencies,andrangesofeconomicprojections,2021–24andoverthelongerrun
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