[Federal Reserve Economic Forecast Chart: Interest Rate and Inflation Expectations Raised, Inflation Expected to Return to 2% in 2029] The Federal Reserve has raised its forecasts for the federal funds rate across the board; both PCE and core PCE inflation forecasts for this year have been revised upwards, with an expected return to the 2% target level in 2029; meanwhile, GDP growth forecasts for this year and next year have been revised upwards, while unemployment rate forecasts have been revised downwards.
