US Federal Reserve Releases Economic Projections [Download PDF]

The US Federal Reserve has released economic projections in conjunction with the September 16-17 meeting.

As part of the Federal Open Market Committee (FOMC) meeting on September 16–17, 2025, members shared their projections for key economic indicators. These included expected outcomes for GDP growth, unemployment, and inflation for each year from 2025 to 2028, as well as estimates for the longer run.

Each member’s forecast was based on the information available during the meeting, their view of the appropriate path for monetary policy (including the federal funds rate and its long-run level), and assumptions about other factors that could affect the economy.

The longer-run projections reflect what members believe these economic variables would settle at over time—assuming monetary policy is managed appropriately and no new shocks hit the economy.

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