• The dot plot from December 2022 shows the median rate at the end of 2023 at 5.1% vs 4.6% at the September 2022 projection
  • For 2024, the median fed funds target rate is 4.1% versus 3.9% in September
  • For 2025, the median fed funds target rate is 3.1% versus 2.9%

The dot plot from December 2022:

Fed
DotPlot for December 2022

The dot plot from September 2022:

Dot plot
Dot plot from September 2022

The table of central tendencies from December 2022 shows:

Central tendencies for December 2022
Central tendencies for December 2022

Highlights from the central tendencies

Overall more bearish as the Fed expects the terminal rate to be higher than market expectations prior to the report. Also they expect lower growth, and higher inflation.