The September Federal Reserve dot plot projections show that Fed officials generally revised their 2026-2027 interest rate path upwards, but their assessments of rates beyond 2028 and in the long term are significantly more divergent. In terms of distribution, Fed officials generally believe that interest rates beyond 2028 and in the long term will decline compared to 2026-2027. Fed officials believe the long-term federal funds rate will be roughly 3%, but their specific assessments of the "neutral interest rate" differ. (Note: Light blue solid bars = September 2026 projection; blue dashed lines = June 2026 projection)
