Federal Reserve dot plot: The median forecast for the federal funds rate at the end of 2025, 2026, 2027 and in the long term are 3.6%, 3.4%, 3.1% and 3.0% respectively (the forecast in June was 3.9%, 3.6%, 3.4% and 3.0%), and the median forecast for the federal funds rate at the end of 2028 is 3.1%.