In June 2015, the 2016 average was 1.625%. Now 1.375%and 2017 was 2.875%. Now 2.625%
In June 2015, the Fed dot graph showed that average rate expectation for 2015 was 0.625%. For 2016 it was 1.625% and 2017 the average was 2.875%.
Below is the plot from June 2015 meeting
The new dot plot looks like the following (see below). The median rate for 2016 is now 1.375% vs 1.625% in June. The average for 2017 is 2.625% vs. 2.875% in June.. The median for 2018 (first look) is for the rate to target 3.338%.
As far as the central tendencies, below are the tendencies from June 2015
The new central tendencies show the following:
For GDP for 2015, they had GDP at 1.8% to 2.0%. The new estimate is 2.0-2.3%. For 2016 the GDP estimate went from 2.4-2.7% to 2.2%-2.6%. For 2017, the estimate went from 2.1%-2.5% to 2.0% to 2.4%
Unemployment rate was lowered. In 2016 the estimate is now 4.7-4.9% vs 4.9%-5.1%
As far as PCE, the estimate for 2016 is a lower at 1.5%-1.8% from 1.6% -1.9%.
