Summary of Economic Projections, June 2024

The Summary of Economic Projections, June 2024, includes projections submitted by meeting participants of the Federal Open Market Committee for real GDP growth, unemployment rate, and inflation from 2024 to 2027 and the longer run. These projections were based on information available at the time of the meeting and assessments of appropriate monetary policy. The longer-run projections indicate where each variable is expected to converge under appropriate monetary policy and in the absence of further economic shocks. "Appropriate monetary policy" is defined as the path of policy that each participant believes will best promote economic activity and inflation outcomes that align with the mandate to achieve maximum employment and price stability.