Longer Run FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Central Tendency, Midpoint : 1.85% (As of 2024-09-18)

Basic Info

Longer Run FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Central Tendency, Midpoint was 1.85 as of 2024-09-18, according to Federal Reserve Economic Data. Historically, Longer Run FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Central Tendency, Midpoint reached a record high of 2.65 and a record low of 1.85, the median value is 1.9. Typical value range is from 1.85 to 1.99. The Year-Over-Year growth is 0%. GuruFocus provides the current actual value, an historical data chart and related indicators for Longer Run FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Central Tendency, Midpoint - last updated on 2024-09-18.

Not Applicable , not seasonally adjusted . The longer-run projections are the rates of growth, inflation, and unemployment 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 real gross domestic product growth 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. 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 given year; the central tendencies exclude the three highest and three lowest projections for each year. This series represents the midpoint of the central tendency forecast's high and low values established by the Federal Open Market Committee. Digitized originals of this release can be found at https://fraser.stlouisfed.org/publication/?pid=677.