The Fed Reserve’s policy setting committee released the outcomes of its two-day meeting at 2 p.m. ET on Wednesday.
And it also just released its latest Summary of Economic Projections.
The Fed now expects 2016 GDP to grow around 1.9% to 2.0% in 2016, down from its previous outlook of 2.1% to 2.3%.
However, the Fed now projects core PCE inflation to be around 1.6% to 1.8% this year, slightly up from its March projection of 1.4% to 1.7%.
As for unemployment rate, the Fed kept its projection steady at 4.6% to 4.8%.
- Federal Reserve