FOMC’s prediction for interest rates, GDP and inflation

The Federal Reserve on Wednesday dialed up its economic growth expectations but signaled that there are no expected interest rate hikes for the next two years.

The so-called dot-plot projections budged little, with most members still expecting to keep rates near zero through 2023.

Four of the 18 Federal Open Market Committee members were looking for a rate hike at some point in 2022, compared with just one at the December meeting. For 2023, seven members see a rate increase, compared with five in the December forecast. As the chart shows, a strong majority…