FOMC Projections of Fed Funds rate

Here is the graph from FRED for FOMC Summary of Economic Projections for the Fed Funds Rate, Central Tendency, Midpoint. (link)

fomc ffr

1.15% for 2016.

2.45% for 2017.

3.20% for 2018.

LOL… lots of luck.

“The projections for the federal funds rate are the value of the midpoint of the projected appropriate target range for the federal funds rate or the projected appropriate target level for the federal funds rate at the end of the specified calendar year or over the longer run. 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.”