According to the “central tendency forecasts” as Fed members have developed to the FOMC meeting on 16-17 June, and which was published on Wednesday.
In the previous forecasts, in March, counted 15 of 17 members, with the interest rate would be raised by 2015. Two members thought that interest rates could be raised only during in 2016.
Members’ median forecast for the policy rate, the Fed Funds lands at 0.625 percent at the end of 2015, 1.625 percent at the end of 2016 and 2,875 percent by the end of 2017. The corresponding forecasts in March, the median forecast 0.625 percent at the end of 2015, 1.875 percent in late 2016 and 3.125 percent at the end of 2017.
The economic forecasts also show that Fed members see a lower GDP growth in 2015 than they did in March. Unemployment forecasts have also been adjusted slightly for 2015. The inflation forecasts is virtually unchanged for the entire period.
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