FOMC dot plot & central tendencies from March 2024 meeting.EOY 2024 rate 4.6% vs 4.6% last

The FOMC dot plot from December 2024 showed the median rate at the end of 2024 at 4.6%. In the March report:

• For 2024, the median fed funds target rate is now 4.6% vs 4.6% in December
• For 2025, the median fed funds target rate is now 3.9% vs 3.6% in December
• For 2026, the median fed funds target rate is now 3.1% vs 2.9% in December

Below is the new dot plot from March 2024:

For comparison, the dot plot from December 2023 showed the following:

Regarding the central tendencies for GDP, Unemployment and PCE inflation (headline and core) below is the table with comparisons from December:

Highlights from the central tendencies:

• PCE inflation for 2024 unchanged at 2.4%
• Core PCE inflation for 2024 moved from 2.4% to 2.6%
• Unemployment for 2024 moved from 4.1% to 4.0%
• GDP for 2024 moved from 1.4% to 2.1%

This article was written by Greg Michalowski at www.forexlive.com.