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US Data: FOMC Participant Projections For Target Funds Rate>

Report for:  June 2018
Source: Federal Reserve
Federal Reserve Note:
Appropriate monetary policy, by definition, is the future path of
policy that each participant deems most likely to foster outcomes for
economic activity and inflation that best satisfy his or her
interpretation of the Federal Reserve's dual objectives of maximum
employment and stable prices.
Appropriate Pace of Monetary Firming
Target Federal Funds Rate at Year-End (in pct)
             Number of Reponses
End of Year        2018      2018      2018        2019      2019      2019
Release Date:     Jun18     Mar18     Dec17       Jun18     Mar18     Dec17
Mean FFR *        2.242     2.192     2.016       2.958     2.917     2.695
Median FFR *      2.375     2.125     2.125       3.125     2.875     2.688
Mode FFR*         2.375       NA      2.125          NA     2.875     2.625
-0.125                0         0         0           0         0         0
0.000                 0         0         0           0         0         0
0.125                 0         0         0           0         0         0
0.250                 0         0         0           0         0         0
0.375                 0         0         0           0         0         0
0.500                 0         0         0           0         0         0
0.625                 0         0         0           0         0         0
0.750                 0         0         0           0         0         0
0.875                 0         0         0           0         0         0
1.000                 0         0         0           0         0         0
1.125                 0         0         1           0         0         0
1.250                 0         0         0           0         0         0
1.375                 0         0         1           0         0         1
1.500                 0         0         0           0         0         0
1.625                 0         2         1           0         1         1
1.750                 0         0         0           0         0         0
1.875                 2         0         3           1         0         0
2.000                 0         0         0           0         0         0
2.125                 5         6         6           1         1         0
2.250                 0         0         0           0         0         0
2.375                 7         6         3           0         0         2
2.500                 0         0         0           0         0         0
2.625                 1         1         1           1         1         4
2.750                 0         0         0           0         1         1
2.875                 0         0         0           4         5         3
3.000                 0         0         0           0         0         0
3.125                 0         0         0           4         2         1
3.250                 0         0         0           0         0         0
3.375                 0         0         0           3         3         2
3.500                 0         0         0           0         0         0
3.625                 0         0         0           1         0         1
3.750                 0         0         0           0         0         0
3.875                 0         0         0           0         1         0
4.000                 0         0         0           0         0         0
4.125                 0         0         0           0         0         0
4.250                 0         0         0           0         0         0
4.375                 0         0         0           0         0         0
4.500                 0         0         0           0         0         0
4.625                 0         0         0           0         0         0
4.750                 0         0         0           0         0         0
4.875                 0         0         0           0         0         0
5.000                 0         0         0           0         0         0
End of Year        2020      2020      2020   Long Run  Long Run  Long Run
Release Date:     Jun18     Mar18     Dec17       Jun18     Mar18     Dec17
Mean FFR *        3.308     3.325     3.016       2.866     2.866     2.783
Median FFR *      3.375     3.375     3.063       2.875     2.875     2.750
Mode FFR*         3.375     3.375     3.125       3.000     3.000       NA
-0.125                0         0         0           0         0         0
0.000                 0         0         0           0         0         0
0.125                 0         0         0           0         0         0
0.250                 0         0         0           0         0         0
0.375                 0         0         0           0         0         0
0.500                 0         0         0           0         0         0
0.625                 0         0         0           0         0         0
0.750                 0         0         0           0         0         0
0.875                 0         0         0           0         0         0
1.000                 0         0         0           0         0         0
1.125                 0         0         0           0         0         0
1.250                 0         0         1           0         0         0
1.375                 0         0         0           0         0         0
1.500                 0         0         0           0         0         0
1.625                 0         1         0           0         0         0
1.750                 0         0         0           0         0         0
1.875                 1         0         0           0         0         0
2.000                 0         0         0           0         0         0
2.125                 0         0         0           0         0         0
2.250                 0         0         0           1         1         1
2.375                 0         0         1           0         0         0
2.500                 2         0         0           1         1         2
2.625                 0         2         2           1         1         0
2.750                 0         0         0           4         4         6
2.875                 0         0         1           0         0         0
3.000                 0         0         3           5         5         6
3.125                 1         1         5           0         0         0
3.250                 1         1         0           1         1         0
3.375                 4         5         0           0         0         0
3.500                 1         1         1           1         1         0
3.625                 3         2         0           0         0         0
3.750                 0         0         0           0         0         0
3.875                 0         0         0           0         0         0
4.000                 0         0         0           0         0         0
4.125                 2         1         2           0         0         0
4.250                 0         0         0           0         0         0
4.375                 0         0         0           0         0         0
4.500                 0         0         0           0         0         0
4.625                 0         0         0           0         0         0
4.750                 0         0         0           0         0         0
4.875                 0         1         0           0         0         0
5.000                 0         0         0           0         0         0
  ** MNI Washington Bureau (202) 371-2121 **
[TOPICS: MTABLE,M$U$$$,MMUFE$,MAUDA$]

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