What is the Summary of Economic Projections?
Four times a year, the Federal Reserve releases a summary of Federal Open Market Committee (FOMC) participants' projections for GDP growth, the unemployment rate, inflation, and the appropriate policy interest rate. The summary also provides information regarding policymakers' views on the uncertainty and risks attending the outlook. The projections provide information on the values that participants view as the most likely to prevail in the current year and the subsequent two years as well as over the longer run. The Chair presents information about these projections in the press conference following the FOMC meeting for which they were prepared. The complete Summary of Economic Projections, which includes a narrative description of the projections, is released as an addendum to the minutes of the FOMC meeting.