Fed dot plot
16 Sep 2026
3.0%
3.5%
4.0%
4.5%
Fed funds
now 3.875%
2026: 2 participants at 3.875%
2026: 2 participants at 3.875%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 4 participants at 4.375%
2026: 4 participants at 4.375%
2026: 4 participants at 4.375%
2026: 4 participants at 4.375%
2026 median: 4.125%
2026
2027: 1 participant at 3.125%
2027: 3 participants at 3.625%
2027: 3 participants at 3.625%
2027: 3 participants at 3.625%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027 median: 4.125%
2027
2028: 4 participants at 3.125%
2028: 4 participants at 3.125%
2028: 4 participants at 3.125%
2028: 4 participants at 3.125%
2028: 1 participant at 3.375%
2028: 3 participants at 3.625%
2028: 3 participants at 3.625%
2028: 3 participants at 3.625%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 4 participants at 4.125%
2028: 4 participants at 4.125%
2028: 4 participants at 4.125%
2028: 4 participants at 4.125%
2028 median: 3.875%
2028
2029: 1 participant at 2.875%
2029: 4 participants at 3.125%
2029: 4 participants at 3.125%
2029: 4 participants at 3.125%
2029: 4 participants at 3.125%
2029: 2 participants at 3.375%
2029: 2 participants at 3.375%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 3 participants at 3.875%
2029: 3 participants at 3.875%
2029: 3 participants at 3.875%
2029 median: 3.625%
2029
Longer run: 1 participant at 2.875%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 1 participant at 3.125%
Longer run: 2 participants at 3.25%
Longer run: 2 participants at 3.25%
Longer run: 1 participant at 3.375%
Longer run: 2 participants at 3.50%
Longer run: 2 participants at 3.50%
Longer run: 2 participants at 3.625%
Longer run: 2 participants at 3.625%
Longer run: 1 participant at 3.75%
Longer run: 2 participants at 3.875%
Longer run: 2 participants at 3.875%
Longer run median: 3.25%
Longer run
3.0%
3.5%
4.0%
4.5%
Fed funds
now 3.875%
2026: 2 participants at 3.875%
2026: 2 participants at 3.875%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 12 participants at 4.125%
2026: 4 participants at 4.375%
2026: 4 participants at 4.375%
2026: 4 participants at 4.375%
2026: 4 participants at 4.375%
2026 median: 4.125%
2026
2027: 1 participant at 3.125%
2027: 3 participants at 3.625%
2027: 3 participants at 3.625%
2027: 3 participants at 3.625%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 6 participants at 4.125%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027: 8 participants at 4.375%
2027 median: 4.125%
2027
2028: 4 participants at 3.125%
2028: 4 participants at 3.125%
2028: 4 participants at 3.125%
2028: 4 participants at 3.125%
2028: 1 participant at 3.375%
2028: 3 participants at 3.625%
2028: 3 participants at 3.625%
2028: 3 participants at 3.625%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 5 participants at 3.875%
2028: 4 participants at 4.125%
2028: 4 participants at 4.125%
2028: 4 participants at 4.125%
2028: 4 participants at 4.125%
2028 median: 3.875%
2028
2029: 1 participant at 2.875%
2029: 4 participants at 3.125%
2029: 4 participants at 3.125%
2029: 4 participants at 3.125%
2029: 4 participants at 3.125%
2029: 2 participants at 3.375%
2029: 2 participants at 3.375%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 7 participants at 3.625%
2029: 3 participants at 3.875%
2029: 3 participants at 3.875%
2029: 3 participants at 3.875%
2029 median: 3.625%
2029
Longer run: 1 participant at 2.875%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 6 participants at 3.00%
Longer run: 1 participant at 3.125%
Longer run: 2 participants at 3.25%
Longer run: 2 participants at 3.25%
Longer run: 1 participant at 3.375%
Longer run: 2 participants at 3.50%
Longer run: 2 participants at 3.50%
Longer run: 2 participants at 3.625%
Longer run: 2 participants at 3.625%
Longer run: 1 participant at 3.75%
Longer run: 2 participants at 3.875%
Longer run: 2 participants at 3.875%
Longer run median: 3.25%
Longer run
One FOMC participant
Median
Data: Federal Reserve, Summary of Economic Projections
Fin
Chiefs