Fed Economic Projections: Rate and Inflation Expectations Revised Up, Inflation Expected to Return to 2% by 2029

Odaily reports that the Federal Reserve has broadly revised up its federal funds rate projections; both this year's PCE and core PCE inflation expectations have been raised, with inflation expected to return to the 2% target level by 2029; meanwhile, GDP growth expectations for this year and next have been revised up, while unemployment rate expectations have been revised down.