The Federal Reserve press conference following the September rate decision can be watched by clicking above.

The Federal Reserve kept the target range for rates between 5.25% and 5.5%. They also kept the end-of-year rate at 5.6% unchanged from the June projection. For 2024, the Fed now sees the end-of-year fed funds target rate at 5.1%, up from 4.6%. The Fed is intent on keeping the rate higher for longer.

The Fed sees GDP higher in 2023 and 2024. They see the unemployment rate lower than previously projected in 2023 and 2024. They see inflation fairly steady.