FED LIFTS RATE PATH, INFLATION OUTLOOK RISES Federal Reserve projections show the median fed funds rate rising to 3.8% in 2026 (from 3.4%), 3.6% in 2027, and 3.4% in 2028, with the long-run rate unchanged at 3.1%. Officials now expect higher inflation through 2026, with PCE not returning to the 2% target until 2028. Growth is slightly lower, unemployment broadly steady. Only 18 of 19 policymakers submitted projections.(*Walter Bloomberg)