Extremely bullish forecast: Review of the Fed’s GDP projections for 2022 and 2023 – Mish Talk

In conjunction with the Fed’s FOMC meeting on September 21, each member of the Fed made projections for interest rates, the unemployment rate, inflation and GDP.

PCE inflation

  • The Fed wants 2.0% inflation over the longer term, so every member of the Fed is precisely forecasting 2.0% inflation despite the fact that the Fed has missed projections for a decade.
  • I really don’t know where inflation will be in 2022 or 2023 or longer term and neither do they. There are too many moving parts with Russia, the midterm elections, Biden’s energy policy and heaven help us if the Democrats manage to hold the House while adding even 1 Senate seat.

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