Extremely Optimistic Forecasts: A Study of Federal GDP Projections for 2022 and 2023 – Mesh Talk

In conjunction with the Federal Open Market Committee’s (FOMC) meeting of the Federal Reserve on September 21, every Fed member set projections for interest rates, the unemployment rate, inflation, and GDP.

Personal consumption expenditures inflated

  • The Fed wants 2.0 percent inflation in the long term, so every Fed member is predicting 2.0 percent inflation specifically despite the fact that the Fed has missed expectations for a decade.
  • I really don’t know where the inflation will be in 2022 or 2023 or in the longer term and neither are they. There are a lot of moving parts with Russia, the midterms, Biden’s energy policy, and Heaven help us if the Democrats can fill the House while adding one seat to the Senate.

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