Fed's projections for growth, unemployment, inflation, and interest rates

The following details the Federal Reserve's three year forecasts for growth, unemployment, inflation, and interest rates, after members of the Federal Open Market Committee voted to hold overnight interest rates unchanged at between 1.00% and 1.25% before Fed Chair Janet Yellen's post meeting press conference. 

Growth rates are expected to range from 2.2% and 2.5% in 2017, compared to 2.1% to 2.2% in previous forecasts in the July meeting, while in 2018, the bank forecasts a growth of 2.0% to 2.3%, compared to 1.8% to 2.2% previously, while expecting growth of 1.8% to 2.0 in 2019, same as before, and finally, long-term growth is forecast to range from 1.8% to 2.0%, same as before as well.

Unemployment rates for 2017 are expected to range between 4.2% and 4.3%, same as previous forecasts in July, while rates for 2018 are forecast to range from 4.0% to 4.2%, compared to 4.0% to 4.3% before. For 2019, forecasts point to 3.9% to 4.4%, compared to 4.1% to 4.7% before, while ranging from 4.5% to 4.8% in the long term, same as before.

As of 07:07 GMT, the dollar index, tracking the greenback against a basket of currencies, fell to 91.63 from the opening of 91.79, with an intraday high at 91.88, and a low at 91.60.

Inflation in 2017 is expected to range from 1.5% to 1.6%, compared to 1.6% to 1.7% in previous forecasts, while ranging from 1.8% to 2.0% in 2018, same as before before. In 2019, inflation is projected to steady at 2.0%, compared to 2.0% to 2.1% in previous forecasts, while settling at 2.0% in the long term, the same as before.

Core inflation in 2017 is forecast to range from 1.5% to 1.6%, down from 1.6% to 1.7% in previous projections in July, while ranging from 1.8% to 2.0% in 2018, same as before, and moving between 2.0% and 2.1% in 2019, also same as before, and fore 2020, it's expected to range between 2.0% and 2.1%. 

Finally, the FOMC expects overnight interest rates to range between 1.1% and 1.4% this year, while ranging from 1.9% to 2.4% in 2018, compared to 1.9% to 2.6% previously, as rates are expected to range between 2.4% and 3.1% in 2019, compared to 2.6% to 3.1% before, while in the long term, rates are projected to range between 2.5% and 3.0%, compared to a range of 2.8% to 3.0% in previous forecasts.